Question

Is there any difference between accounting and accountancy?

Answer 1

Accounting- to keep the record of each and every finance activity either in the ledger or journal from is called as accounting. it also depend on nature of business so has the defferent meaning at a time.

Accountancy- To summarize, classify and accordance of every financial activity into a system is known as accountancy. it related to reporting of accountancy, bookkeeping, auditing etc.