Is there a difference between the words "accounting" or "accountancy", when referring to the field or branch of study?
- Could one or the other be said to be a subfield within the other?
- Are there any abbreviated forms for both or either of these words used to refer to the field, e.g., similar to "biol." used for "biology"?
Best Answer
They are more or less interchangeable. Accounting has different meanings and in one sense refers to the process of keeping or maintaining financial records; while accountancy, according to OED, specifically refers to the duties(which consists of accounting, bookkeeping, auditing, etc.) or profession of an accountant.
When it comes to which is the child and which is the parent, accountancy seems to be the parent term in finance. Here is the definition from Wikipedia:
That said, when referring to the field itself, I'll never use accountancy and will stick with accounting.