Accountancy
Accounting glossary · Understand, connect, apply
Accountancy is the professional field concerned with measuring, recording, reporting, analysing and assuring financial information.
Example
An accountancy practice may provide financial reporting, audit, management accounting and tax services.
Remember the difference
Bookkeeping is one part of accountancy. Professional qualifications and reserved services vary by jurisdiction.
Updated 3 November 2026. Examples are simplified for learning. Where a term depends on US law, IFRS, US GAAP or a historical rule, check the context explained above and the requirements relevant to your course.
Study references: OpenStax financial accounting and managerial accounting. For reporting requirements, consult the applicable IFRS Standards or FASB guidance. US tax terms should be checked against the relevant tax-year IRS instructions.
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