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

To feed her family, Sanaa needs two bags a day - an expense of 9,000 pounds, before accounting for any other food.

From BBC

"I also use it to help write code or find the best accounting software for my business."

From BBC

Illinois Governor JB Pritzker wrote in an online post: "This is a developing situation and the people of Illinois deserve a full, factual accounting of what's happened today to ensure transparency and accountability."

From BBC

At that time, the GOP sought to adjust congressional accounting to make the bill’s enormous costs look more affordable for the government.

From Salon

The move wasn’t punitive, with Roberts also accounting for Monday’s off day in hopes “a two-day reset could help” the two-time All-Star.

From Los Angeles Times

Related Words

• bookkeeping 
• computing