accounting

[ uh-koun-ting ]

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

/ 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

1. The system of recording and auditing business transactions. ( See audit .)

Word History and Origins

Origin of accounting¹

First recorded in 1350–1400; Middle English; account + -ing ¹

Example Sentences

It will take at least $20,000 just to do that, and that’s not accounting for his nearly entire loss of this year’s harvest, he said.

From Los Angeles Times

In addition, the older generation increased by about 42,500 people, accounting for 37.1% of the total population.

From Science Daily

West Virginia, for example, has the highest opioid death rate but its homeless population is a fraction of California’s, even when accounting for its small population.

From Los Angeles Times

Panorama – which has seen leaked invoices, bank statements, details of rent payments and lease agreements – asked Nicholas Parton, head of forensic accounting at Opus Pear Tree, to examine the school’s finances.

From BBC

Also, many borrowers enrolled in Public Service Loan Forgiveness have moved significantly closer to the end of their payments, thanks to accounting adjustments ordered by the Biden administration.

From Los Angeles Times

Related Words

• bookkeeping
• computing