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

The board increasingly became comfortable with D’Amaro — who joined the company 28 years ago in Disneyland’s accounting division.

From Los Angeles Times

MGM later confirmed the accident and said the preliminary results hadn’t been audited or reviewed by its registered independent accounting firm.

From Barron's

Samuel points out that the accounting software provider’s shift toward payments in the U.S. exposes it to a model with less recurring revenue than its core subscription business.

From The Wall Street Journal

Dormant accounts are usually filed by companies that have had no significant accounting transactions - such as paying salaries - during a financial year.

From BBC

Last year, it earned $592 million in fees from its strategic capital business, accounting for about 7% of its total revenue.

From The Wall Street Journal

Related Words

• bookkeeping
• computing