Bookkeeping is the systematic recording, organizing, and classification of a business's financial transactions. It involves maintaining detailed records of income, expenses, assets, and liabilities to support financial decision-making, budgeting, tax preparation, and overall business management.
Key Points to Emphasize:
Systematic: Highlights the organized nature of bookkeeping.
Financial transactions: Clearly defines the focus.
Decision-making: Emphasizes the importance of bookkeeping for business strategy.
