Explain the terms Accounting and Accountancy

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Earlier article describes the difference between accounting and bookkeeping and accounting and management accounting. Below explain the term Accountancy which normally been used loosely with Accounting

Accountancy:

  • the systematic knowledge of accounting that explains the various aspects of accounting.
  • It explains ways how to prepare the books of accounts and why such preparation are to be made and how the summary of information can be communicate to the users.

{ click here to the Content Page on Introduction to Accounting }

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