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.

---

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

---

accounting Cultural  

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

---

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

See Examples For:

accounting

The federal government also does not keep a comprehensive accounting.

From Salon ● Jul. 27, 2026

South Korean tech giants Samsung Electronics and SK Hynix and US-based Micron dominate the Dram market, with the three companies accounting for around 90% of global production.

From BBC ● Jul. 27, 2026

A tracker created by Tzachi Zach, an accounting professor at Ohio State University, at last count showed 99.5% of the letters opposed it.

From The Wall Street Journal ● Jul. 26, 2026

Remittances from abroad help anchor the economy, accounting for nearly a third of the gross domestic product.

From Los Angeles Times ● Jul. 26, 2026

There are about seventy thousand accounting grads in India each year, he added, many of whom go to work for local Indian firms starting at $100 a month.

From "The World Is Flat" by Thomas L. Friedman

Related Words

• bookkeeping
• computing