Question

what is the difference between accountancy and accounting?

Answer 1

Accounting is the recording, classifying and summarizing of transactions and events that are of a financial nature while Accountancy is the communication of financial information to users (shareholders, owners, etc.) of that information.

Accountancy is also the term for the duties of an Accountant.

Although many laypeople incorrectly view the two roles as indistinguishable, this subtle but extremely important point may be used to distinguish Accountants from Bookkeepers.