accountancy

/əˈkaʊntənsi/

/əˈkaʊnɾənsi/

Definitions of accountancy

1. noun

   the occupation of maintaining and auditing records and preparing financial reports for a business
   synonyms: accounting

   types:

   cost accounting

   keeping account of the costs of items in production

   bookkeeping, clerking

   the activity of recording business transactions

   inventory accounting

   accounting that controls and evaluates inventory

   costing

   cost accounting

   single entry, single-entry bookkeeping

   a simple bookkeeping system; transactions are entered in only one account

   double entry, double-entry bookkeeping

   bookkeeper debits the transaction to one account and credits it to another

   FIFO, first in first out

   inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold

   LIFO, last in first out

   inventory accounting in which the most recently acquired items are assumed to be the first sold

   type of:

   business, job, line, line of work, occupation

   the principal activity in your life that you do to earn money