what is difference between accountancy and book keeping?????

Firstly, there's a big difference between accountancy and accounting.                                    

Accountancy is the syestematic knowledge of accounting. It is a discipline containing rules, procedures,conventions,etc. Accounting is a means of measuring and reporting the results of economic activities. Using accountancy, we do accounting.

So, we differenciate between book-keeping and accounting.(1) Book-keeping includes Identification,Recording and Classification (IRC) of transactions. But in accounting, along with IRC summarising and interpretation/communication of results is also included (IRCSI).

(2) Book-keeping is a part of accounting or we can say accounting includes book-keeping.

(3)Objectives of book-keeping is to record transactions but accounting aims to find the end result of business transactions.

(4)Book-keeping requires lesser skill as compared to accounting.

(5)Book-keeping has limited scope whereas accounting has wider scope as compared to book-keeping......hope it helped :)

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thnxxx  bushra65

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