Meaning, definition and objectives of bookkeeping | Class 11th commerce | Maharashtra state board

Chapter 1) Introduction to bookkeeping and accountancy

Topic 1) Meaning, definition and objectives of bookkeeping
Book-keeping involves systematically recording the financial transactions of a business to provide accurate financial information for decision-making, performance analysis, and legal compliance. It ensures permanent records of income, expenses, assets, and liabilities. The main objectives are to track profits or losses, manage tax liabilities, and support business control and planning.

While book-keeping focuses on recording and classifying transactions, accountancy includes analyzing and interpreting this data for decision-making. Book-keeping is crucial for understanding financial health and supporting stakeholders such as owners, investors, and tax authorities.

Timestamps:-
Topics covered: 0:00 - 1:33
Introduction: 1:33 - 3:45
History of Accountancy: 3:45 - 4:55
Meaning of Bookkeeping: 4:55 - 6:07
Definitions of Bookkeeping: 6:08 - 7:01
Features of Bookkeeping: 7:02 - 7:33
Objectives of Bookkeeping: 7:34 - 8:14

Thanks for watching.
Like,share & subscribe.