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.

---

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

Example Sentences

The purchase was made through a trust managed by an accounting firm located in the same office as Plaza’s production company, Evil Hag Productions.

From MarketWatch

Even accounting for your $1.3 million, a 4% withdrawal rate doesn’t leave you much of a cushion, but you probably won’t need to withdraw such a large percentage of your savings.

From MarketWatch

The European Union is the world's biggest trader of goods and services, accounting for nearly 16% of world trade in 2024.

From BBC

A series of costly accounting errors had a major role in the collapse of the charity that ran Coventry City of Culture, a BBC investigation has found.

From BBC

“The Happiness Advantage” by Shawn Achor has had the biggest impact in the way I view my work as a CPA in public accounting.

From The Wall Street Journal

Related Words

• bookkeeping
• computing