What is meant by Accountancy?

A.VERIFIED ANSWERfact-checked by tutors

Accountancy refers to a systematic knowledge of accounting. It explains how to deal with various aspects of accounting. It tells how and why to maintain books of accounts, how to summarize accounting information and how to communicate it to the various users.

Suggested Q&A

ACCOUNTANCY · CLASS 11

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What is meant by Assets? Also explain its types.
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Explain the following terms of Accounting: (a) Sales (b) Revenues (c) Profit (d) Gain (e) Loss (f) Discount (g) Drawings.
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Explain any five advantages of Accounting.
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Explain the following terms of Accounting: (a) Expenses (b) Expenditure (c) Debtors (d) Creditors (e) Voucher.