Accountancy is the profession and practice of maintaining, recording, and reporting financial information of a business or organization.

It includes activities such as:

Bookkeeping

Preparing financial statements

Auditing

Tax planning and compliance

Financial analysis

Accountancy helps businesses:

Know their profit or loss

Control expenses

Comply with laws

Make better financial decisions

In simple terms, accountancy is the field of work that deals with managing and reporting financial records.