bookkeeping is art or science

Bookkeeping can be viewed as both an art and a science. As a science, it involves the systematic and methodical process of recording financial transactions, ensuring accuracy, consistency, and compliance with accounting standards and laws. This scientific approach focuses on data collection, categorization, and reporting in a precise, structured manner However, bookkeeping also involves elements of art. The art of bookkeeping comes into play when it requires judgment, interpretation, and decision-making based on financial data. This includes tailoring accounting practices to the unique needs of a business, identifying trends, and making recommendations that support financial health and business growth.