What is Accounting?, What is Accountancy? and What is Bookkeeping

abcaccounts By abcaccounts, 22nd Jun 2012 | Follow this author | RSS Feed
Posted in Wikinut>Business>Accounting & Finance

This page give's you a precise definition of accounting.

What is Accounting?

“Accounting is the systematic process of recording,classifying,measuring,analyzing
and summarizing in monetary terms transactions and events, and then reporting and interpreting the result to the users of accounting information, in order to enable them make good economic decisions.”

— Akinmade O. Victor

What is Accountancy?

Accountancy:

“the profession or duties of an accountant”

OED

“The professional practices of Accounting processes”

Akinmade O. Victor

“the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof.

(AICPA)

What is Bookkeeping?


“Bookkeeping is the process of recording and summarizing financial transactions into the appropriate books of accounts".

— Akinmade O. Victor

Tags

Accounting, Education, Finance

Meet the author

author avatar abcaccounts
I am a Nigerian by birth, am a Business Student of Federal College of Education(Technical) Akoka. I am straight forward person.

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