accounting

[uh-koun-ting]

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.

accounting

/ 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

accounting

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

Word History and Origins

Origin of accounting¹

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

Example Sentences

This gave way to ever-more-sophisticated accounting and management strategies that employed metrics for the depreciation of slave worker value and the dishing out of incentives—both rewards and punishments—for their performance.

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Revenues are better than they were before the pandemic, even when accounting for inflation.

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The difficulty then becomes accounting for the wild swings mile split to mile split.

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The bulk of Lilla’s essay is an accurate accounting of the transformation of conservatism from the Reagan presidency until now.

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Berkshire’s cash including equivalents rose to a record $358 billion, after accounting for a payable for purchasing some short-term government debt, from $344 billion at the end of June.

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Related Words

• bookkeeping 
• computing