Question

Accounting and Book-keeping are viewed as distinct functions. Mention any four differences between Accounting and Book Keeping.

Answer 1

Book - Keeping	Accounting
1. It is concerned with the presentation of primary books  of accountancy	1. It deals with the recording, analysis and final interpretation of data.
2. It has limited scope	2. It has a wider scope.
3. In book-keeping, the level of work is less. This work is done by junior staff.	3. The level of work is high.
4. It does not show the net result and financial position of the business	4. It shows the profit of the business and the net worth of the business.