Definitions [3]
Define book-keeping.
According to R. N. Carter, “Book-keeping is the science and art of recording correctly in the books of account all those business transactions of money or money’s worth”.
Definitions: Book-keeping
- Richard E. Strahelm: “The art of analyzing and recording business transactions, reporting results of business operations through periodic statements and interpreting such results for purposes of effective control of future operations.”
- J. R. Batliboi : “Book-keeping is the art of recording business dealings in a set of books.”
- Nocth Cott : “Book-keeping is the art of recording in the books of accounts the monetary aspects of commercial or financial transactions.”
- R.N. Carter : “Book-keeping is the science and art of correctly recording in the books of accounts,all those business transactions that result in the transfer of money or money’s worth.”
Definition: Accounting Standards
In the words of Kohler: “Accounting standards are codes of conduct imposed by customs, laws or professional bodies for the benefit of public accountants and accountants generally.”
