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Bookkeeping and accounting means12/2/2023 In the coffee roaster example, the energy cost to heat the roaster would be indirect because it is inexact and difficult to trace to individual products. Indirect costs are costs that cannot be directly linked to a product.If a coffee roaster spends five hours roasting coffee, the direct costs of the finished product include the labor hours of the roaster and the cost of the coffee beans. The most important focus of bookkeeping is to maintain an accurate record of all the monetary transactions of a. Bookkeeping is said to be the basis of accounting, whereas accounting forms a part of the broader scope in finance. Bookkeeping is a direct record of all purchases and sales your business conducts, while accounting is a subjective look at what that data means for your business and cash flow strategies.
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