Accounting and bookkeeping are fundamental aspects of financial management for any business. Bookkeeping involves the systematic recording of financial transactions, ensuring accurate and up-to-date financial data. Accounting goes a step further by interpreting, classifying, analyzing, and summarizing this data into financial reports such as balance sheets, income statements, and cash flow statements. These processes provide essential insights into the financial health of a business, enabling informed decision-making, efficient tax planning, and regulatory compliance. Effective accounting and bookkeeping practices help businesses maintain financial stability, enhance operational efficiency, and support strategic growth and profitability.