I prefer you to use TS grewal double entry accountancy book of class 11. It has all the theory part you're asking.

Relationship between Accountancy, Accounting, and Bookkeeping

Accountancy, accounting, and bookkeeping are closely related fields that play a crucial role in managing and recording financial information for individuals, businesses, and organizations. While they share similarities, each of them has distinct characteristics and responsibilities.

1. Bookkeeping:
Bookkeeping is the process of systematically recording financial transactions, such as sales, purchases, receipts, and payments, in a chronological order. It involves maintaining accurate and detailed records of financial activities using various books and ledgers. Key points about bookkeeping include:

- Bookkeeping is primarily concerned with the daily recording and organizing of financial data.
- It involves tasks such as maintaining journals, ledgers, and subsidiary books.
- Bookkeepers ensure that transactions are accurately recorded and classified.
- They prepare financial statements, such as trial balance, balance sheet, and income statement, based on the recorded data.
- Bookkeeping provides the foundation for accounting.

2. Accounting:
Accounting is a broader field that encompasses bookkeeping and extends beyond it. It involves the interpretation, analysis, and summarization of financial data recorded by bookkeepers. Key points about accounting include:

- Accounting focuses on analyzing and interpreting financial information to make informed decisions.
- It involves activities such as classifying, summarizing, reporting, and interpreting financial data.
- Accountants prepare financial statements, such as balance sheets, income statements, and cash flow statements, based on the recorded data.
- They analyze financial performance, identify trends, and provide insights to stakeholders.
- Accounting helps in evaluating the financial health and performance of an individual, business, or organization.

3. Accountancy:
Accountancy is a profession that encompasses both bookkeeping and accounting. It involves the application of accounting principles, standards, and practices to ensure accurate financial reporting. Key points about accountancy include:

- Accountancy is concerned with the preparation, analysis, and interpretation of financial information.
- Accountants use their expertise to ensure compliance with accounting regulations and standards.
- They provide advisory services, such as financial planning, budgeting, and risk management.
- Accountancy involves auditing, taxation, and financial management.
- Accountants play a crucial role in providing financial information to stakeholders, including investors, creditors, and management.

Conclusion:
In summary, bookkeeping is the foundational process of recording financial transactions, accounting involves analyzing and interpreting financial data, while accountancy encompasses both bookkeeping and accounting while also incorporating additional tasks such as auditing and financial management. Together, these fields ensure that accurate and reliable financial information is available for decision-making and financial reporting purposes.