The two words “Accounting” and “Accountancy” are often used to mean the same thing. But it is not correct. Accountancy is the main subject(Accounting is one of its branches. The word “Accountancy” is far extensive; i.e. the scope of accountancy is far wide and extensive compared to Accounting. It covers the entire body of theory and practice, e.g. Book-keeping, Accounting, costing, auditing, Taxation etc.
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