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

See Examples For:

accounting

The BLS said gasoline prices rose 3.9% last month alone, accounting for more than a third of inflation overall.

From BBC ● Sep. 11, 2026

The informal sector is a major part of the economy, accounting for up to 65 percent of the continent's gross domestic product, according to the International Monetary Fund.

From Barron's ● Sep. 9, 2026

That was the lowest of 15 states analyzed by the Quantitative Economics and Statistics team at accounting firm EY.

From The Wall Street Journal ● Sep. 9, 2026

Labor-market economist Guy Berger took a look at employment data that showed women are accounting for virtually all of the jobs growth.

From MarketWatch ● Sep. 9, 2026

I’d never taken an accounting course, never run a business, never even had savings of my own to manage.

From "The Big Short" by Michael Lewis

Related Words

• bookkeeping
• computing