Accounting - Definitions from Dictionary.com

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Dictionary.com Unabridged (v 1.1) - Cite This Source - Share This

ac·count·ing

Audio Help [uh-koun-ting] Pronunciation Key

–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. (distinguished from 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.

[Origin: 1350–1400; ME; see account, -ing¹

]

Dictionary.com Unabridged (v 1.1)
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.

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Accounting

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ac·count Audio Help (ə-kount') Pronunciation Key
n.

A narrative or record of events.
1. A reason given for a particular action or event: What is the account for this loss?
2. A report relating to one's conduct: gave a satisfactory account of herself.
3. A basis or ground: no reason to worry on that account.
4. A formal banking, brokerage, or business relationship established to provide for regular services, dealings, and other financial transactions.
5. A precise list or enumeration of financial transactions.
6. Money deposited for checking, savings, or brokerage use.
7. A customer having a business or credit relationship with a firm: salespeople visiting their accounts.
Abbr. a/c or acct.
1. A formal banking, brokerage, or business relationship established to provide for regular services, dealings, and other financial transactions.
2. A precise list or enumeration of financial transactions.
3. Money deposited for checking, savings, or brokerage use.
4. A customer having a business or credit relationship with a firm: salespeople visiting their accounts.
Worth, standing, or importance: a landowner of some account.
Profit or advantage: turned her writing skills to good account.

tr.v. ac·count·ed, ac·count·ing, ac·counts
To consider as being; deem. See Synonyms at consider. See Usage Note at as¹.

Phrasal Verb(s):
account for

To constitute the governing or primary factor in: Bad weather accounted for the long delay.
To provide an explanation or justification for: The suspect couldn't account for his time that night.

Idiom(s):
call to account

To challenge or contest.
To hold answerable for.

Idiom(s):
on account
On credit.

Idiom(s):
on account of
Because of; for the sake of: "We got married on account of the baby" (Anne Tyler).

Idiom(s):
on no account
Under no circumstances.

Idiom(s):
on (one's) own account

For oneself.
On one's own; by oneself: He wants to work on his own account.

Idiom(s):
take into account
To take into consideration; allow for.

[Middle English, from Old French acont, from aconter, to reckon : a-, to (from Latin ad-; see ad-) + cunter, to count (from Latin computāre, to sum up; see compute).]

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The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2006 by Houghton Mifflin Company.
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ac·count·ing Audio Help (ə-koun'tĭng) Pronunciation Key
n. The bookkeeping methods involved in making a financial record of business transactions and in the preparation of statements concerning the assets, liabilities, and operating results of a business.

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WordNet - Cite This Source - Share This

accounting
noun
1.	a convincing explanation that reveals basic causes; "he was unable to give a clear accounting for his actions"
2.	a system that provides quantitative information about finances
3.	the occupation of maintaining and auditing records and preparing financial reports for a business [syn: accountancy]
4.	a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
5.	a statement of recent transactions and the resulting balance; "they send me an accounting every month" [syn: account]