Meaning of accountancy
Accountancy is a field of study and practice that deals with the measurement, processing, analysis, and communication of financial information about a business or organization. It involves the recording, classifying, summarizing, and interpreting of financial transactions to provide useful information for decision-making.The meaning of accountancy is very clear.
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Accountancy includes a range of activities such as bookkeeping, financial reporting, auditing, taxation, and management accounting. It is important in both the private and public sectors, as accountancy provides essential financial information that helps businesses and organizations to make informed decisions about their operations, investments, and finances.
Accountants are professionals who have trained and qualified to provide accountancy services, including preparing financial statements, conducting audits, providing tax advice, and assisting with financial planning and analysis. They must adhere to professional standards and ethical guidelines to ensure the accuracy, integrity, and confidentiality of financial information.
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