Book keeping is recording of transaction while Accountancy is compilation of accounts.

Book keeping is
within ambit of accountancy.

Financial Statements- Bal sheet, P& L, Trading Account, Cash Flow etc.

Cost Accounting- Involves principle of costing, Procedure for evaluation and technique to ascertain the
cost. Identifies profit centers in industrial organization. Very useful in decision making for management.

Very useful in Large Man./Industrial organization

Process cost, Fixed cost, variable cost etc.

Management Accounting - Provide data to Management for formulation of policies.

Accounting standard Board constituted by ICWI (Institute of chartered accountants of India)

ASB formulate Accounting standard and ICWI approves it. There are around 29 AS.

It has become mandatory under section 211 B to follow AS.

Depreciation-Straight line and written down value method