What do u mean by accountancy . And how its work on business works .

1.	What do u mean by accountancy . And how its work on business works .
Answer» accountancy is the process of identifying the business transactions , measuring them , recording ,. classification , summarising and interpretation and communicationit helps the management in manking decision. Thnx mam Accounting is a process of identifying the events of financial nature, recording them in Journal, classifying in their respective ledgers, summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information,\xa0viz.\xa0owner/s, government, creditors, investors etc.According to the\xa0American Institute of Certified Accountants, 1941, “Accounting is an art of recording, classifying and summarising in a significant manner and in terms of money transactions and events that are, in part at least, of a financial character and interpreting the results thereof.”

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