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What is the relation between accounting, accountancy, and bookkeeping?

gtghadmin Answered question December 31, 2021
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Bookkeeping is the basis of accounting. Its main purpose is to record all financial activities and transactions.

Whereas accounting ascertains the net worth and financial position of a business on the basis of bookkeeping.

However, accountancy involves the decision-making function of business on the basis of bookkeeping and accounting.

gtghadmin Answered question December 31, 2021
gtghadmin Answered question December 31, 2021
0

Bookkeeping is the basis of accounting. Its main purpose is to record all financial activities and transactions.

Whereas accounting ascertains the net worth and financial position of a business on the basis of bookkeeping.

However, accountancy involves the decision-making function of business on the basis of bookkeeping and accounting.

gtghadmin Answered question December 31, 2021
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