Bookkeeping
is how you record and categorize your day-to-day financial transactions, whereas accounting is presenting that financial data in various reports through summarising and analysis (reports are such as financial statements, management reports).
Accounting
(and bookkeeping) is a continuous process. Accounting tells you whether or not you’re making a profit, where your money is flowing, and what the current value of your business is.
Auditing
is a periodic process. An audit does not create financial information/records but involves examination of financial information/ records. An audit enhances credibility and reliability of financial information.
Accounting starts where bookkeeping ends, whereas auditing starts where accounting ends. Auditing is carried out after the final preparation of the accounts and financial statements.
