Definition

The practice of keeping track of financial records, including the preparation of reports that show a company's financial status. It involves tasks like recording transactions, analyzing data, and ensuring that financial information is accurate.

Example

She decided to pursue a career in accountancy after completing her degree in finance.

Conversation

I’ve been thinking about studying accountancy next year.

That sounds interesting! What made you choose that field?

I really enjoy working with numbers and analyzing financial data.

It’s a great choice; accountancy can lead to many job opportunities.

Synonyms & Antonyms

Root Explanation

Accountancy → It is formed from "account" (from Old French *acont*, meaning to count or calculate) and "-ancy" (a suffix indicating a state or quality). The word "accountancy" refers to the state or practice of counting and calculating financial transactions.

Memory Tip

Think of the word 'account' which relates to counting or calculating, and remember that 'accountancy' is the practice of managing and calculating financial records.

Visually Confused Words