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

Bashir had been considering studying accounting and finance at university when he was let go by Surrey as a teenager so will understand the short-term risk versus long-term gain at play here.

From BBC

Any such changes in U.S. accounting rules would be a while away.

From The Wall Street Journal

Small businesses face significant challenges, with holiday season revenue for many accounting for over 25% of annual income.

From Barron's

Healthcare, prescription drugs and international travel were leading contributors, with healthcare accounting for a third of the increase.

From The Wall Street Journal

The biggest contributors to this trend have been software, accounting for 16% of growth, and the servers that fill AI data centers with another 14%.

From Barron's

Related Words

• bookkeeping
• computing