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.