Accounting and accountancy is different from each other. Accounting is a process identifying, classifying, summarising, analysing and communicating the business transactions in terms of money. Accountancy is a systematic knowledge of accounting concerned with the principles and techniques which are applied in accounting. It tells us how to prepare books of accounts,how to summarise the accounting information and how to communicate it to the interested parties.

Accounting is the process of systematically recording, measuring, and communicating information about financial transactions. ... The three major financial statements produced by accounting are the income statement, the balance sheet, and the cash flow statement.


**Accountancy is the subject which teach us how to maintain company's expenses and Revenue. In other words we can sayAccountancy is the practice of recording, classifying, and reporting on business transactions for a business .


**Accountancy is 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.




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