Showing results for "accounting"

• present participle of account.

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. (distinguished from 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

Explanation

Accounting is the act of computing something, usually by dealing with numbers. If you were very good at math in high school, you might think about going into accounting. You can see the word count within accounting, which is one way to remember that the word has to do with keeping track of numbers — usually in relation to financial transactions. Balancing your checkbook is a form of accounting. Large firms often hire accountants to keep track of their earnings and spending. Accounting can also more generally mean explaining. Someone who decides to wear shorts to the prom is likely going to have some serious accounting to do!

Example Sentences

It’s ranked 12th among U.S. accounting firms, according to an Accounting Today report from March.

From The Wall Street Journal • Jun. 11, 2026

Most recently, Chief Accounting Officer Laura Bartels sold 11,306 shares for roughly $392.70 each, or $4.4 million in total, on Tuesday.

From Barron's • Jun. 5, 2026

Ho, who left the Public Company Accounting Oversight Board in January, recently joined Oath, a new firm that aims to automate 80% of its work by 2030 as it integrates artificial-intelligence tools.

From The Wall Street Journal • May 28, 2026

Accounting program heads say they generally haven’t seen a significant decline in master’s enrollments since the law changes, but some have experienced a drop.

From The Wall Street Journal • May 18, 2026

Accounting thus became the basis for rational investment choices and made it possible to decide how to divide up the profits of a partnership.

From "The Invention of Science" by David Wootton

Related Words

• bookkeeping
• computing