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.

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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

Example Sentences

Last week, the company reported its first sales increase in two years at established stores in the US - its biggest and most important market, accounting for some 70% of revenue.

From BBC

In one letter we’ve seen, the auditor writes that “these entities are subject to consolidation under accounting principles generally accepted in the United States of America.”

From The Wall Street Journal

But at corporations’ mid-level ranks, he said, more companies were finding ways to use AI to help gather data, generate initial thoughts on it, analyze reports, and follow accounting protocols.

From MarketWatch

Semiconductor shipments, accounting for nearly one-quarter of total goods exports in 2025, drove trade growth.

From The Wall Street Journal

Bread, especially the baguette, is a staple in French diets but also a major source of salt, traditionally accounting for about 25% of the recommended daily intake.

From Science Daily

Related Words

• bookkeeping
• computing