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

Russia is the second-largest country in the world by TOR usage, accounting for 15% of all traffic.

From Salon

Nearly one in three people doing a T-level in health and science drop out in their first year, while a third of those on legal, finance and accounting courses fail to finish.

From BBC

There are currently more than 20 T-Level subjects to choose from, external, including accounting, craft and design, engineering and media production.

From BBC

A third of students failed to finish legal, finance and accounting courses.

From BBC

Only legal, finance and accounting courses had a higher rate, with 33%.

From BBC

Related Words

• bookkeeping
• computing