Accounting can be divided into several fields including financial accounting, management accounting, auditing, and tax accounting.
Accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms,
Both the words accounting and accountancy were in use in Great Britain by the mid-1800s, and are derived from the words accompting and accountantship used in the 18th century. In Middle English the verb "to account" had the form accounten, which was derived from the Old French word aconter, which is in turn related to the Vulgar Latin word computare, meaning "to reckon". The base of computare is putare, which "variously meant to prune, to purify, to correct an account, hence, to count or calculate, as well as to think."
Accounting and accountancy
Accounting has variously been defined as the keeping or preparation of the financial records of an entity, the analysis, verification and reporting of such records and "the principles and procedures of accounting"; it also refers to the job of being an accountant.
Accountancy refers to the occupation or profession of an accountant, particularly in British English. The early development of accounting dates back to ancient Mesopotamia, and is closely related to developments in writing, counting and money; and early auditing systems by the ancient Egyptians and Babylonians.
Double-entry bookkeeping developed in medieval Europe, and accounting split into financial accounting and
References: Bibliography: Wikipedia @baygross