accounting

American  

[uh-koun-ting] / əˈkaʊn tɪŋ /

noun

1. the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc. (bookkeeping ).

2. a detailed report of the financial state or transactions of a person or entity.

   an accounting of the estate.

3. the rendering or submission of such a report.

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accounting British  

/ əˈkaʊntɪŋ /

noun

1. 1. the skill or practice of maintaining and auditing accounts and preparing reports on the assets, liabilities, etc, of a business

   2. ( as modifier )

      an accounting period

      accounting entity

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accounting Cultural  

1. The system of recording and auditing business transactions. (See audit.)

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Etymology

Origin of accounting

First recorded in 1350–1400; Middle English; account + -ing ¹

Example Sentences

Power suppliers want to make sure that if demand doesn’t grow enough, they still have enough commitments in general to fund any increase in capacity, said Olga Usvyatsky, an accounting consultant.

From The Wall Street Journal

Indonesia and Australia are the two biggest exporters of thermal coal globally, accounting for roughly 48% and 18% of shipments, respectively, according to Australian government data.

From The Wall Street Journal

This was just the fifth Premier League game this season a team has won with just one shot on target, with Sunderland now accounting for two of those.

From BBC

These increases show the market's response to the effective shutdown of the Strait of Hormuz, a waterway accounting for some 20 percent of global crude supplies.

From Barron's

There’s no accounting for people’s behavior or feelings, and it’s best to leave difficult folks to their own devices.

From MarketWatch

Related Words

• bookkeeping
• computing