No
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Book-Keeping
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Accountancy
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1
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Meaning: Bookkeeping records and classifies the business
transactions. Book keeping is the recording branch of accountancy.
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Meaning: Accountancy is wider concept than book-keeping. Accountancy
includes bookkeeping and classifying, summarising and interpreting of the
business transactions. Accountancy starts where book keeping ends.
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2
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Definition: “Book keeping
Bookkeeping is the systematic recording of the transactions in a manner
enabling the financial relationship of business with other person to be
clearly disclosed and the cumulative h effect of the transactions on the
financial position of the business itself can be correctly ascertained.
Bookkeeping is the first stage it is comes immediately after transaction.”
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Definition: Accountancy is an act of recording, classifying and summarising
the business transactions, balancing of accounts, drawing conclusions and interpreting
the results thereof.
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3
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Book-Keeping is the first step and it
comes immediately after transaction.
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Accountancy comes after recording and
classification. Accountancy starts where bookkeeping ends.
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4
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Bookkeeping includes recording the
entries of day-to-day transactions by following basic rules of double entry
book keeping system
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Accountancy includes processing of
primary information available from books of accounts and preparation of financial
statements.
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5
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Book-keeping has a limited scope
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Accountancy has a wider scope.
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6
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Book-keeping basically results in Journal
and Ledger.
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The results of accountancy is Profit
and Loss a/c and Balance Sheet.
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7
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Book-keeping aims at keeping the
record and provides primary information
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Accountancy aims at finding the profits or
losses and gives financial position.
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Distinction / Difference between Book-Keeping and Accountancy
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ReplyDeleteHummer Desert Safari
we can distinguish them.. from many ways... go for this.... catch-up bookkeeping
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