What is the difference between accounts, accounting and accountancy?
What is the difference between accounts, accounting and accountancy?
Accounts mean the ways of storing money in different categories by a financial institution such as a bank or the post office. It helps a financial institution know the category of a customer like savings or current account holder.
Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business, and it also refers to the process of summarizing, analyzing and reporting these transactions to oversight agencies and tax collection entities.
Accountancy the practices of recording, classifying and reporting business transactions carried out on goods and services in an organization. It’s valuable in providing feedback to management with respect to the financial results and status of an establishment.
Accounts mean the ways of storing money in different categories by a financial institution such as a bank or the post office. It helps a financial institution know the category of a customer like savings or current account holder.
Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business, and it also refers to the process of summarizing, analyzing and reporting these transactions to oversight agencies and tax collection entities.
Accountancy the practices of recording, classifying and reporting business transactions carried out on goods and services in an organization. It’s valuable in providing feedback to management with respect to the financial results and status of an establishment.
