Question

what is accountancy? ​

Answer 1

Answer:

Accounting or accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations.

Explanation:

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Answer 2

Accountancy covers those rules, regulations, procedures, principles, concepts, conventions, and techniques which are to be applied in the process of accounting. It is a broad term. It also includes Financial Accounting, Cost Accounting, Management Accounting, Tax Accounting and Government Accounting. Virtually, accountancy acts as a guide for the preparation of books of accounts, summarisation of information and communicating the results to the concerned persons. Accountancy is usually used for accounting work of a higher order. In the words of Kohler, “Accountancy refers to the entire body of the theory and practice of accounting.”

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