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

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

This conclusion remains significant even after accounting for factors like birth order, sanitation practices, maternal height, sibling count, education, anaemia and household socio-economic status.

From BBC

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

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

From BBC

Canada is currently the world’s second largest producer of uranium, accounting for roughly 13% of the total global output, according to the Canadian government.

From BBC

Related Words

• bookkeeping
• computing