Accountancy

Accounting is the Art of recording, classifying, and summarising in a significant manner and
in terms of money, transactions and events which are, in part at least, of financial character,
and interpreting the results thereof’.
Debit comes from the Italian debito which comes from the Latin debita and debeo which
means owed to the proprietor. Credit comes from the Italian credito which comes from the
Latin ‘credo’ which means trust or belief (in the proprietor or owed by the proprietor.