Accounting or accountancy is the measurement, processing and communication of financial

information about economic entities.[1][2] The modern field was established by the Italian
mathematician Luca Pacioli in 1494.[3] Accounting, which has been called the "language of
business",[4] measures the results of an organization's economic activities and conveys this
information to a variety of users, including investors, creditors, management, and regulators.[5]
Practitioners of accounting are known as accountants. The terms 'accounting' and 'financial
reporting' are often used as synonyms.

Accounting can be divided into several fields including financial accounting, management
accounting, auditing, and tax accounting.[6]Accounting information systems are designed to
support accounting functions and related activities. Financial accounting focuses on the reporting
of an organization's financial information, including the preparation of financial statements, to
external users of the information, such as investors, regulators and suppliers;[7] and management
accounting focuses on the measurement, analysis and reporting of information for internal use by
management.[1][7] The recording of financial transactions, so that summaries of the financials may
be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping
is the most common system.[8]

Accounting is facilitated by accounting organizations such as standard-setters, accounting firms

and professional bodies. Financial statements are usually audited by accounting firms,[9] and are
prepared in accordance with generally accepted accounting principles (GAAP).[7] GAAP is set by
various standard-setting organizations such as the Financial Accounting Standards Board (FASB)
in the United States[1] and the Financial Reporting Council in the United Kingdom. As of 2012,
"all major economies" have plans to converge towards or adopt the International Financial
Reporting Standards (IF

1. the profession or practice of accounting

2. Bachelor of Accountancy
3. The degree of Bachelor of Accountancy (also known as Bachelor of Accounting) is the
principal academic degree in accountancy in several countries, and is often the only
(undergraduate) degree recognised for subsequent practice as a professional accountant;
see First professional degree. It is abbreviated B.Acy. or B.Acc. or B. Accty.. It is also
sometimes titled Bachelor of Accounting Science (B.Acc.Sci.) or "Baccalaureus
Computationis" (B.Compt.) or "Baccalaureus Rationum" (B.Rat.).
4. The B.Acy. is extremely specialized: the curriculum requires study sufficient for
professional practice (often at the major-level) in financial accounting, management
accounting, auditing, and taxation. The curriculum also includes intermediate coursework
in business law and economics, and general coverage of management theory, and
business mathematics and -statistics. The degree is thus not to be confused with a B.B.A.
in Accounting or B.Com. in Accounting, which are general business degrees with
accounting as an area of concentration; for discussion, see Business education
Undergraduate education. Some programs allow for specializations in topics such as
Tax Accountancy or Auditing/Forensic Accountancy.[1]
 5. Due to the nature of the B.Acy., it is a professional degree course that not many
universities actually offer. In the United States, it is likely to be a four-year undergraduate
degree. In other parts of the world, such as Singapore, it can be a three-year
undergraduate degree course as well. In Malta, it is a two year course which can be taken
after qualifying in Bachelor of Commerce only for students who obtain exceptional
grades in their previous course. Most public universities in South Africa offer the degree
or a variant, often as a postgraduate Honours degree.
6. After completion of the Bachelor of Accountancy, students typically go on to work as
accountants in industry, and / or pursue professional accountant status. When the degree
is recognized for this purpose, graduates will therefore pursue the CPA or CA (or other)
designations, and thus take up "articles" at an accounting firm accredited for training, so
as to meet the relevant work experience requirements, and will then also sit the associated
Professional Examination.
7. Note that in the United States, a bachelor's degree in accountancy is generally not
sufficient for practice as a professional accountant.[2][3] Also, employers in industry
generally prefer to hire applicants with a master's in accountancy (or an MBA with a
concentration in accounting) and/or with professional certification.[4] Accountancy
graduates intending to work as accountants will therefore commence with the Master of
Accountancy; an accelerated program, or an advanced program allowing for specialized /
additional elective work, is typically available to these students.

The Accounting program prepares students for careers in accounting and related
fields, and makes them ready to deal effectively with the problems they will face as
professional accountants, researchers and responsible citizens. The program aims to
develop the qualities that enhance the student's professional and research
competence, awareness of his/her responsibilities to society and appreciation of an
accountant's high standard of integrity and objectivity.

BS in Accountancy in the Philippines

The Bachelor of Science in Accountancy (BSA) program is composed of subjects in accounting (
financial, public, managerial), audit, administration, business laws and taxation. Its primary
focus is not limited to business subjects, but to other fields as well, such as banking and finance,
government, social services, education, and more. The program also teaches students to integrate
information technology concepts into business systems, in order to create a more systematic and
organized way of storing business related data. As a student, you will be taught computerized
accounting systems, and basic understanding of computer programming and auditing systems.
The program also instills in students the importance of computational and communication skills
both in written and oral English.
The BS Accounting program is taught in a variety of teaching methods such as case
analysis, individual and group reports, simulations, classroom discussions and guest
lecturers. It also includes extensive exposures to business immersions (an
internship where there is a probability that the company will hire/absorb you after
graduation) and an on-the-job training that will provide you with the understanding
of practical accountancy.

Is Accountancy a profession?

Accountancy is a proffesion. A graduate of BS in Accountancy who passed the board

exam is called a CPA (Certified Public Accountant), or in short an Accountant. An
accountant's job includes the performance of financial functions related to the
collection, accuracy, recording, analysis and presentation of a business,
organization or company's financial operations. The accountant usually has a
variety of administrative roles within a company's operation.