This document provides an introduction to accountancy by defining accounting, outlining its characteristics and objectives, and describing its various sub-fields and users. Accounting is defined as the process of recording, classifying, summarizing, analyzing, and interpreting financial transactions and data. It has the objectives of maintaining accurate financial records, calculating profit and loss, ascertaining financial position, and meeting legal requirements. The main sub-fields are financial accounting, cost accounting, management accounting, tax accounting, and social responsibility accounting. The advantages of accounting include aiding management decision-making and providing systematic financial records, while the disadvantages include being based on historical data and subject to personal judgment.