Definitions for accountancy
əˈkaʊn tn siac·coun·tan·cy

Princeton's WordNetRate this definition:0.0 / 0 votes

1. accountancy, accountingnoun

   the occupation of maintaining and auditing records and preparing financial reports for a business

WiktionaryRate this definition:0.0 / 0 votes

1. accountancynoun

   The function of compiling and providing financial information primarily by reports referred to as financial statements. Accounting includes bookkeeping, systems design, analysis and interpretation of accounting information.

2. accountancynoun

   A company or organisation that performs such a function.

WikipediaRate this definition:0.0 / 0 votes

1. accountancy

   Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non-financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers. Management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system. Accounting information systems are designed to support accounting functions and related activities. Accounting has existed in various forms and levels of sophistication throughout human history. The double-entry accounting system in use today was developed in medieval Europe, particularly in Venice, and is usually attributed to the Italian mathematician and Franciscan friar Luca Pacioli. Today, accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms, and are prepared in accordance with generally accepted accounting principles (GAAP). GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in the United Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).

ChatGPTRate this definition:0.0 / 0 votes

1. accountancy

   Accountancy is the practice of recording, classifying, reporting, and interpreting the financial data of an organization or individual. This process involves preparing financial statements, ensuring compliance with financial regulations, conducting audits, managing tax affairs, and providing advice on financial management. The term may also refer to the profession of an accountant.

Webster DictionaryRate this definition:0.0 / 0 votes

1. Accountancynoun

   the art or employment of an accountant

WikidataRate this definition:1.0 / 1 vote

1. Accountancy

   Accountancy, or accounting, is the production of information about an enterprise and the transmission of that information from people who have it to those who need it. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in selecting the information that is relevant to the user and is representationally faithful. The principles of accountancy are applied to business entities in three divisions of practical art, named accounting, bookkeeping, and auditing. Information technology plays a vital role within accounting. Today many tedious accounting practices have been simplified with the help of computer software. Software such as enterprise resource planning software systems help to manage value chain of companies. ERP systems provide a comprehensive, centralized, integrated source of information that companies can use to manage all major business processes, from purchasing to manufacturing to human resources. This software can replace up to 200 individual software programs that were previously used. there is also computer integrated manufacturing that allows products to be made and completely untouched by human hands and can increase production by having less errors in manufacturing process. Computers have reduced the cost of accumulating, storing, and reporting managerial accounting information and have made it possible to produce a more detailed account of all data that is entered into any given system. Computers have changed business to business interaction through e-commerce. rather than dealing with multiple companies to purchase products a business can purchase a product at a less expensive price and take out the third party and vastly reduces expenses companies once accrued. Inter-organizational information system enable suppliers and businesses to be connected at all times. When a company is low on a product the supplier will be notified and fulfill an order immediately which eliminates the need for someone to do inventory, fill out the proper documents, send them out and wait for their products.

Editors ContributionRate this definition:0.0 / 0 votes

1. accountancy

   The act and process of managing financial accounts and software to manage a register of income, expenditure and other relevant financial information for a business, company, enterprise or organization to an official and defined accounting standard.

   The accountancy exams are easy and he has trained and qualified to be an accountant.

   
   

   Submitted by MaryC on March 13, 2020  

Matched Categories

1. • Occupation

How to pronounce accountancy?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say accountancy in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of accountancy in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of accountancy in Pythagorean Numerology is: 3

Examples of accountancy in a Sentence

1. Scott Knight:

   There are noises that some accountancy firms are avoiding signing off audit reports until things become clearer.

2. Scott Knight:

   Other difficulties arise from not being able to discuss issues in person, and not being able to physically observe the controls that are used to run a company, there are noises that some accountancy firms are avoiding signing off audit reports until things become clearer.

Popularity rank by frequency of use

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=accountancy
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Accountancy
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Accountancy
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Webster Dictionary
   https://www.merriam-webster.com/dictionary/accountancy
6. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=accountancy