Book-keeping and auditing is related with recording of business transactions. Business enterprise and other organizations deal in activities which involve exchange of money or money’s worth. All these activities are recorded for the purpose of taking important decisions as to whether the activities are feasible, profitable and are to be continued or not. Information about the business and other organizations is required not only by the proprietors and managers of business and other organisations but also to various other stakeholders such as the government, investors, customers, employees and researchers.