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

Contract workers, while making up less than 10% of the health care workforce, are paid so much that they cost more per hour than state workers even after accounting for benefits, auditors also found.

From Los Angeles Times

“Selling off-MLS might feel more convenient, but it limits competition. Listing publicly through the MLS typically attracts more buyers and can lead to higher bids, even after accounting for agent commissions.”

From MarketWatch

The PCAOB, which regulates the accounting firms that audit U.S.-listed companies, sets audit standards, inspects audits and disciplines firms for violations.

From The Wall Street Journal

The company forecast a 3% net yield for the full year ahead, after normalizing for accounting matters involving a new loyalty program and other factors.

From MarketWatch

Year-end tax planning is an annual rite at accounting and advisory firms like CBIZ, said Mark Baran, a managing director in the firm’s national tax office.

From MarketWatch

Related Words

• bookkeeping
• computing