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

That’s a year’s worth of a company’s earnings divided by the net accounting value of the things it owns.

From Barron's

That’s a year’s worth of a company’s earnings divided by the net accounting value of the things it owns.

From Barron's

Additionally, the article notes that Federal Reserve Chairman Jerome Powell acknowledged job growth may actually be negative when accounting for an estimated 60,000-person overstatement in monthly employment figures.

From Los Angeles Times

Gusto’s most recent monthly jobs reports found that small businesses cut workers in both October and November, with retail and professional services accounting for the largest declines.

From The Wall Street Journal

We looked at data from 112 countries, accounting for 99 percent of food-related greenhouse gas emissions globally, and divided each country's population into 10 income groups.

From Science Daily

Related Words

• bookkeeping
• computing