What do you mean by Book Keeping?

Book Keeping is an activity concerned with the recording of financial data relating to business operations in an orderly manner. Book-keeping is the recording phase of accounting. Further, book keeping is that branch of knowledge which tells us how to keep a record of financial transactions. The need for recording such transactions arise because (i) it is difficult to remember the various financial payments and receipts taking place during a period of time; (ii) in modern forms of business organizations the control of business rests with different persons and the results are to be reported to the owners; (iii) the financial information is, required for the purpose of costing, budgeting, forecasting and planning; and (iv) book-keeping records are to be submitted to various government agencies like income tax and sales tax authorities for taxation purposes.

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Definition of Book-keeping

Kohler, Eric : Book-keeping is the process of analyzing, classifying and recording transactions in accordance with a preconceived plan for the purpose of Providing a means by which an enterprise  may be conducted in an orderly fashion and Establishing a basis for recording and reporting the financial affairs of an enterprise and the results of its operations.


Batliboi, J.R. : Book-keeping is the art of recording business dealings in a set of books.

Carter, R.N. : Book-keeping is the science and art of recording correctly in the books of accounts all those business transactions that result in the transfer of money or money’s worth.

Rosenkampff A.H. : Book-keeping is the art of recording business transaction in a systematic manner.

Cropper, L.C. : Book-keeping is the science of recording transactions in money or money’s worth in such a manner that, at any subsequent day, the nature and effect of each transaction, and the combined effect of the transactions, may be clearly understood so that the accounts prepared at any time from the records thus kept may show the owner of the books his true financial position.

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