Accountancy is the process of communicating financial information about a business entity to users such as shareholder and manager. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in selecting the information that is relevant to the user and is reliable. The principle of accountancy is applied to business entities in three divisions of practical art, named accounting, and auditing. Usually used to allot the profession, accountancy means the occupation of managing and auditing records and making financial reports for a business. it is used more often in the United Kingdom or former British colonies.