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Accountancy - It is a body of knowledge prescribing certain rules or principles to be observed while recording , classifying and summarising of transactions.

BOOK KEEPING - - - - -
⇒ Identifying the transactions of financial nature.
⇒Measuring the identified transactions in terms of money.
⇒Recording the measured transactions
⇒Classifying them the ledger.
⇒It is performed by junior Staff.
⇒Does not requires analytical staff.
Accountancy - - - - - -
⇒ Summarising the classified transactions in the form of Profit - Loss Account and Balance  Sheet. 
Analysing and Interpreting the summarised results.
Communication the information to the interested parties.
It is performed by Senior Staff.
Requires analytical staff.

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