Accountancy

/əˈkaʊn.tən.si/

Meaning & Definition

noun

The profession or practice of maintaining financial accounts, preparing financial statements, and ensuring compliance with relevant regulations.

After completing her degree, she pursued a career in accountancy.

The skills and methods related to accounting and financial management.

His expertise in accountancy helped the company to streamline its financial processes.

The system or body of rules and standards governing financial accounts and reporting.

The accountancy standards have been updated to reflect changes in technology.

From account + -ancy, denoting a state or quality.

public accountancy

The practice of accounting for a variety of clients, including individuals and businesses.

forensic accountancy

The use of accounting skills to investigate fraud or financial discrepancies.

cost accountancy

A method of accounting that focuses on capturing all costs associated with production.

account

A record of financial transactions.

auditing

The examination of financial records to ensure accuracy.

ledger

A book or other collection of financial accounts.

Bean counter

He's a bean counter at a big corporation, handling all their financial records.

Number cruncher

Don't ask him about his work; he's just a number cruncher.