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

Customs and Border Protection official recently told the trade court that companies will have to do their own accounting and upload a spreadsheet listing each wrongly tariffed good and the amount owed.

From The Wall Street Journal

When accounting for that ad revenue, streaming services generated closer to $177 billion in global revenue last year.

From Los Angeles Times

Thessaly is the leading region for feta exports, accounting for over 50 percent of Greece's total exports.

From Barron's

The Labs’ budget was enormous, and accounting conventions allowed its parent company to make huge and continuing investments in R & D.

From The Wall Street Journal

He advised students in liberal arts to major in law, accounting, or Chinese literature, reasoning that these fields most commonly led to recruitment after civil service exams.

From BBC

Related Words

• bookkeeping
• computing