accounting

noun

ac·​count·​ing ə-ˈkau̇n-tiŋ 

1

: the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results

also : the principles and procedures of this system

studied accounting as a freshman

2

a

: work done in accounting or by accountants

b

: an instance of applied accounting or of the settling or presenting of accounts

3

: account sense 2

They were required to provide a detailed accounting of their actions.

Synonyms

• account
• argument
• case
• explanation
• rationale
• reason

Examples of accounting in a Sentence

what accounting can you give for your bizarre actions on the night in question?

Recent Examples on the Web

Explore the guide In a sample of 88 LAUSD schools in the 2022-23 school year, auditors from a local accounting firm discovered two schools where TK classes had an average enrollment of more than 24 children, resulting in a penalty of nearly $7 million. —Jenny Gold, Los Angeles Times, 7 June 2024

Founded in 2005 as a kind of facilitator for tax-exempt organizations and charitable donors, Arabella provides back-office functions for nonprofits, including legal advice, human resources, accounting and the like. —Daniel Klaidman, CBS News, 4 June 2024

Oorlog, currently chief accounting officer, will succeed Paul Shoukry, who has been named the firm’s CEO successor. —Bysheryl Estrada, Fortune, 31 May 2024

Those protocols must detail everything from the amount of drug used and the source of that drug to a step-by-step accounting of how the research itself will be conducted. —Nicholas Florko and Sarah Owermohle, STAT, 30 May 2024

Word History

Etymology

Middle English acountynge "reckoning, calculation," from gerund of accounten "to account entry 2"

First Known Use

circa 1676, in the meaning defined at sense 2b

Phrases Containing accounting

• cost accounting
• there's no accounting for taste

Kids Definition

accounting

noun

ac·​count·​ing ə-ˈkau̇nt-iŋ 

1

: the system or practice of recording the amounts of money made and spent by a person or business

2

: a statement explaining one's conduct : account sense 5a

Legal Definition

accounting

noun

ac·​count·​ing

1

: an often court-ordered presentment or examination of accounts

a complete accounting would be necessary to determine the nature of the expenditures

—Case & Comment

2

: the settlement by judicial action of the assets of a partnership (as upon dissolution)