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

The legislation, effective Jan. 1, will add a potent mix of spending increases, tax cuts, and accounting changes.

Read more on Barron's

The House Armed Services Committee too followed suit, saying they were "taking bipartisan action to gather a full accounting of the operation in question".

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At the end of the 2024–25 school year, after accounting for graduates and families known to have relocated, 18,232 newcomer students were enrolled and expected to return this fall.

Read more on Los Angeles Times

“I felt an obligation to be financially stable because my parents aren’t always that stable,” says Zheng, now a college student studying finance and accounting.

Read more on The Wall Street Journal

Recently, sales have stalled in the Americas, its biggest market, accounting for two-thirds of net revenue.

Read more on The Wall Street Journal

Related Words

• bookkeeping 
• computing