The role of an accountant is to apply financial principles of accounting to analyze information, prepare profit, gain and financial loss statements. Accountants are experts in their field. They can prepare and analyze financial reports as if they are the Internal Revenue Service.

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Oftentimes when I meet someone for the second or third time, they say, “aren’t you in accounting?” While I am into accounting, which is the methodology and measuring aspect of my work, the profession as a whole is better labeled as ‘accountancy’.

Accountancy is the profession and accounting is the methods by which accountants measure, track and report on financial information so that resource allocation decisions can be made by, well, whoever the decision makers are.

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