Difference between Accounting & Book keeping

Bookkeeping	Accounting
Book-keeping consists of recording financial transactions in a logical fashion	Accounting concerns itself with summarizing of such recorded financial transactions
It is the basis of the process of accounting	Accounting is the basis for the Business Language
Financial statements are not a part of the bookkeeping	Preparing financial statements is the ultimate aim of accounting
Managers do not take decisions on the basis of bookkeeping records	Accounting records are used to assist managers in making decisions
Bookkeeping does not have any branches	Accounting has branches such as Cost Accounting, Management Accounting, etc
It is done by bookkeepers, who do not require any special skill or knowledge	Accountants, on the other hand, require special accounting knowledge and skills