Advantages Of Book‐Keeping
(Chapter 2: Theory Base of Accounting)
What is Book-Keeping?
Book‐Keeping is a systematic manner of recording transactions related to business in the books of accounts. In Book‐Keeping, transactions are recorded in the order of the dates. An Accountant is a person who records the transactions in the books of the business and is expected to show the financial results of a business for every financial year. A financial year in India is followed from 1st April to 31st March.
According to J. R. Batliboi
"Book‐Keeping is an art of recording business dealings in a set of books."According to R.N Carter:
"Book‐Keeping is an art of recording in the books of accounts, all those business transactions that result in transfer of money’s worth"
In book keeping, financial transactions are recorded in a set of books. It is the first stage of maintaining accounts and as such it cannot give any conclusions about the performance of business.









