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

The sector added 686,000 jobs in 2025, accounting for more than all of the gains in nonfarm payrolls.

From Barron's • Apr. 3, 2026

In those scenarios, the accounting rules say they “shall consider whether an adjustment” is necessary.

From The Wall Street Journal • Apr. 3, 2026

Lennar also says that the accounting treatment of its land-light strategy has been transparent and accurate.

From The Wall Street Journal • Apr. 1, 2026

The good news is that after accounting for financial aid and adjusting for inflation, college costs have moderated in the last six years.

From MarketWatch • Apr. 1, 2026

“There’s no accounting for some people. You’re lucky to get it back. Is it all right?”

From "The Book of Dust: La Belle Sauvage" by Philip Pullman

Related Words

• bookkeeping
• computing