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Mention 2 Differences between accounting and …

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Mention 2 Differences between accounting and accountancy.

    • Posted by Manish Kumar 5 years, 3 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Yogita Ingle 5 years, 3 months ago

    • Accounting
    1. Accounting begins where book-keeping ends.
    2. It summarised statements and communication the results there of to parties interested in them.
    3. Accounting is the science of recording and classifying business transactions.
    4. It makes easy to handle the business.
    • Accountancy
    1. The knowledge of how to make accounting is called accountancy.
    2. Accountancy tells how to maintain various books of accounts.
    3. How to prepare them and how to communicate accounting information to the parties interested in them.
    4. Thus accounting is a systematic knowledge like other academic subject such as economics, physics, chemistry etc.

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