Science is a systematized body of knowledge. It establishes a relationship of cause and effect within the various related phenomenon. It is also based on some fundamental principles. Accounting has its own principles e.g. the double entry system, which explains that each transaction has two fold aspects i.e. debit and credit. It also lays down rules of journalizing. So we can say that accounting is a science.
Art requires an ideal knowledge, interest and knowledge to try to to a work efficiently. Art also teaches us the way to do a piece within the absolute best way by making the best use of the available resources. Accounting is an art as it also requires knowledge, interest and knowledge to take care of the books of accounts in a systematic manner. Everybody cannot become a good accountant. It can be concluded from the above discussion that accounting is an art also as a science.

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