what is accountancy?
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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.
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❖ Accountancy :-
- ❒ The term "Accountancy" is said to be a systematic knowledge of accounting along with the principles as well as the techniques of application in accounting.
- ❍ According to Eric L. Kohler, "Accountancy is the theory and practice of accounting : its responsibilities, standards, convention and activities".
- ❍ According to F. W. Pixley, "Accountancy is the science which deals with recording of monetary transaction in every description".
- ❒ Accountancy is considered as both science and arts as it provides the principles, rules, conventions, concepts etc. for the purpose of recording, classifying, summarizing and interpreting the financial statements and accounting information in a systematic manner.
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