Bookkeeping involves organizing and managing all business transactions in a company.
Bookkeeping is the recording, on a day-today basis of the financial transactions and information pertaining to a business. Bookkeeping provides the information from which accounts are prepared but is a distinct process, preliminary to accounting.

Accounting Concepts and Principles are a set of broad conventions that have been devised to provide a basic framework for financial reporting. Accounting concepts are postulates, assumptions or conditions upon which accounting records and statement are based.