Definitions for ACCOUNTING
əˈkaʊn tɪŋac·count·ing

Princeton's WordNetRate this definition:2.0 / 3 votes

1. accountingnoun

   a convincing explanation that reveals basic causes

   "he was unable to give a clear accounting for his actions"

2. accountingnoun

   a system that provides quantitative information about finances

3. accountancy, accountingnoun

   the occupation of maintaining and auditing records and preparing financial reports for a business

4. accounting, accounting system, method of accountingnoun

   a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts

5. account, accounting, account statementnoun

   a statement of recent transactions and the resulting balance

   "they send me an accounting every month"

WiktionaryRate this definition:1.0 / 2 votes

1. accountingnoun

   The development and use of a system for recording and analyzing the financial transactions and financial status of a business or other organization.

2. accountingnoun

   A relaying of events; justification of actions.

   He was required to give a thorough accounting of his time.

3. Etymology: * First attested in the late 14th century.

Samuel Johnson's DictionaryRate this definition:0.0 / 0 votes

1. Accountingnoun

   The act of reckoning, or making up of accounts.

   Etymology: from account.

   This method faithfully observed, must keep a man from breaking, or running behind hand in his spiritual estate; which, without frequent accountings, he will hardly be able to prevent. Robert South, Sermons.

WikipediaRate this definition:0.0 / 0 votes

1. Accounting

   Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non-financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers. Management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system. Accounting information systems are designed to support accounting functions and related activities. Accounting has existed in various forms and levels of sophistication throughout human history. The double-entry accounting system in use today was developed in medieval Europe, particularly in Venice, and is usually attributed to the Italian mathematician and Franciscan friar Luca Pacioli. Today, accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms, and are prepared in accordance with generally accepted accounting principles (GAAP). GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in the United Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).

ChatGPTRate this definition:0.0 / 0 votes

1. accounting

   Accounting is a systematic process of recording, analyzing, interpreting and presenting financial transactions and data. It involves measuring business activities, processing that information into financial reports and statements, and communicating these findings to decision-makers such as investors and management. The purpose of accounting is to provide quantitative and qualitative information about a business's operations and financial performance, which aids in making economic decisions. It includes various areas such as financial accounting, management accounting, auditing and taxation.

2. accounting

   Accounting is a systematic process of recording, summarizing, analyzing and interpreting financial (money-related) activities that result from business operations. It involves the production of financial statements and reports primarily for use by internal and external entities such as management, investors, creditors, and government agencies. The goal of accounting is to provide quantitative information about a business or individual’s financial resources, obligations, and activities, assisting in making economic decisions.

3. accounting

   Accounting is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owner’s equity. It provides information that helps users make informed financial decisions. Accounting is often performed by accountants and is governed by various accounting principles and regulations.

4. accounting

   Accounting is a systematic process of recording, summarizing, analyzing and reporting financial transactions of a business. It involves the preparation of financial statements, tracking income and expenses, processing payroll, and ensuring compliance with legal requirements and tax regulations. It helps business owners, managers, investors and other stakeholders to make informed decisions regarding the financial health and status of the business.

5. accounting

   Accounting is a systematic practice, work or process of communicating and recording financial information. It involves analyzing, summarizing, and reporting these transactions to oversight agencies, regulators, tax collection entities, and other relevant stakeholders. The process includes preparing financial statements such as balance sheets, income statements, and cash flow statements. Accounting is often referred to as the "language of business" due to its role in maintaining a clear and organized record of all financial transactions and thus providing a picture of the financial health of a business or individual. It is used by individuals, small businesses, corporations, non-profit organizations, and governments.

Webster DictionaryRate this definition:2.5 / 2 votes

1. Accounting

   of Account

WikidataRate this definition:4.4 / 5 votes

1. Accounting

   Accounting, or accountancy, is the measurement, processing and communication of financial information about economic entities. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms accounting and financial reporting are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, auditing, and tax accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.

U.S. National Library of MedicineRate this definition:3.0 / 1 vote

1. Accounting

   System of recording financial transactions.

Editors ContributionRate this definition:0.0 / 0 votes

1. accounting

   A system that provides quantitative information relating to accounts and finance.

   Accounting practices are easy and simple.

   
   

   Submitted by MaryC on March 4, 2020  

Matched Categories

1. • Explanation
   • Occupation
   • System

British National Corpus

1. Spoken Corpus Frequency

   Rank popularity for the word 'ACCOUNTING' in Spoken Corpus Frequency: #3832

2. Written Corpus Frequency

   Rank popularity for the word 'ACCOUNTING' in Written Corpus Frequency: #4739

3. Nouns Frequency

   Rank popularity for the word 'ACCOUNTING' in Nouns Frequency: #1576

Usage in printed sourcesFrom: 

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How to pronounce ACCOUNTING?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say ACCOUNTING in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of ACCOUNTING in Chaldean Numerology is: 2

2. Pythagorean Numerology

   The numerical value of ACCOUNTING in Pythagorean Numerology is: 8

Examples of ACCOUNTING in a Sentence

1. Mike Young:

   Everybody has a percentage share of whatever is available and that goes up and down, have boards that make decisions in the interest of everybody, and everybody has an incentive to make the system work. State Water Board makes the final decision, and the profits are allocated to shareholders... You run a water accounting system that looks like your bank account.

2. Patrick Pouyanne:

   Adani Green is still worth twice as much as we invested, Adani Gas is still worth eight times more. Our accounting is healthy, there was due diligence before and due diligence after.

3. Marianne Baker:

   In all my years working for Senator Vice President Biden, I never once witnessed, or heard of, or received, any reports of inappropriate conduct, period -- not from Ms. Tara Reade, not from anyone. I have absolutely no knowledge or memory of Ms. Reade's accounting of events, which would have left a searing impression on me as a woman professional, and as a manager, these clearly false allegations are in complete contradiction to both the inner workings of our Senate office and to the man I know and worked so closely with for almost two decades.

4. Hal Schroeder:

   The objective of this standard is to align the economics of lending with the accounting, if you have an expectation of loss, why should accounting ignore that?

5. John Ray:

   Literally one of the founders could come into this environment, download half a billion dollars’ worth of wallets onto a thumb drive and walk off with them, and there’d be no accounting for that whatsoever.

Popularity rank by frequency of use

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=ACCOUNTING
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Accounting
3. ^ Samuel Johnson's Dictionary
   https://johnsonsdictionaryonline.com/views/search.php?term=ACCOUNTING
4. ^ Wikipedia
   https://en.wikipedia.org/wiki/Accounting
5. ^ ChatGPT
   https://chat.openai.com
6. ^ Webster Dictionary
   https://www.merriam-webster.com/dictionary/ACCOUNTING
7. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=ACCOUNTING
8. ^ Usage in printed sources
   https://books.google.com/ngrams/graph?content=ACCOUNTING