Accountancy (profession)
or accounting (methodology) is the measurement,
disclosure or provision of assurance about financial
information that helps managers, investors, tax
authorities and other decision makers make resource
allocation decisions.
Financial accounting is
one branch of accounting and historically has
involved processes by which financial information
about a business is recorded, classified, summarized,
interpreted, and communicated.
Accountancy attempts to create
accurate financial reports that are useful to
managers, regulators, and other stakeholders
such as shareholders, creditors, or owners. The
day-to-day record-keeping involved in this process
is known as bookkeeping. |
