what is Accountancy? Explain it with example?
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Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.
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The definition of accounting is the process of systematically recording and managing financial accounts. Preparing a Profit and Loss Statement is an example of accounting. A system that measures, organizes, and communicates financial information about a specific business, government, or other entity.
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