Question

definition of accountancy​

Answer 1

Answer:

The work or profession of an accountant.

Explanation:

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Answer 2

Explanation:

Look here is the answer:-

Accountancy is the practice of recording, classifying, and reporting on business transactions for a business. It provides feedback to management regarding the financial results and status of an organization. The key accountancy tasks are noted below.

· Recordation

· Classification

· Reporting

Reports in accounting

Three reports are typically generated in financial accounting and cover a specific, predetermined accounting period:

1.Balance sheet

2.Income statement

3.Statements of cash flow

The creation of these reports typically occurs monthly and is used for internal planning and decision-.making. This is known as 'management accounting'.

The aim is to provide managers with reliable information regarding the costs of operations and on standards with which those costs can be compared in order to assist with budgeting.