What is accountancy?
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tanch??? anyway….padhai kaise chal rahi bhai ….
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Accounting can be defined as a process of reporting, recording, interpreting and summarising economic data. The introduction of accounting helps the decision-makers of a company to make effective choices, by providing information on the financial status of the business.The American Institute of Certified Public Accountants (AICPA) had defined accounting as the “art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof”.
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Accounting is the art of recording, classifying and summarizing in a significant manner, in terms of money, events and transaction, which at least part of a financial character and interpreting the result thereof
Accountancy is the process of managing the income and expenses of a business
Accountancy is an art of recording, summarizing, classifying of goods in a significant manner in terms of money, credit, transaction.
Accountancy\xa0is the practice of recording, classifying, and reporting on business transactions for a business. It provides feedback to management regarding the financial results and status of an organization.\xa0Advantage of accounting\xa0:- Comparison of financial of financial results with other firms. (iii) Helps in decision making by providing relevant information. (v) Providing information to interest parties and user. (vi)\xa0Accounting\xa0record business records in systematic manner.