Accounting refers to the business function of recording economic activity. Accounting includes the processing of information and a reporting role. The accounting term encompasses a broad range of functions for every business. It starts out with a system of gathering economic information, categorizing the material, inputting the data into an accounting program, and generating outputs for decision making.
An accountant is skill set level used in the accounting profession. Individuals at this level generally have some formal education in business and accounting. They are qualified to make general journal entries and understand the various reports for business and the dual entry system of accounting.