In simple words, science establishes relationship of

cause and effect whereas art is the application of

knowledge comprising of some accepted theories and
rules.
Accounting is an art of recording financial transaction
in a set of book; classifying in desired categories and
summarizing the information for presentation in a
suitable manner to the concerned persons for their
benefit.
Accounting is also science in the sense that it
comprises of rules, principles, concepts, conventions
and standards. All these form body of knowledge
which has recognitions all over the world. The term
GAAP denotes generally accepted accounting
principles. At present we have International
Accounting Standards Committee also.