Difference between book keeping, accounting and accountancy

1.	Difference between book keeping, accounting and accountancy
Answer» \tBookkeepingAccountingBookkeeping is an activity of recording the financial transactions of the company in a systematic manner.Accounting is an orderly recording and reporting of the financial affairs of an organization for a particular period.It is the subset of accounting.It is regarded as the language of business.Bookkeeping does not reflect the financial position of an organization.Accounting clearly shows the financial position of the entity.Journal and LedgersBalance Sheet, Profit & Loss Account and Cash Flow Statement\t\xa0

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