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Accountancy

Accountancy Definition

Accountancy (or accounting) is the process of maintaining, auditing, and processing financial information for business purposes.

Practitoners of accountancy are known as accountants.

Accountancy allows the creation of accurate financial reports that are useful to managers, regulators, and other stakeholders such as shareholders or owners. The day-to-day record-keeping involved in this process is known as bookkeeping.

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