The investigation of Konigsberg represents the second accounting firm implicated in the Madoff subterfuge.
I use what I learned in business school about accounting, economics and so forth almost every day.
Did a federal investigation into Freddie Mac's accounting lead to the suicide of CFO David Kellermann?
"reckoning of numbers," late 14c., verbal noun from account (v.). Phrase no accounting for tastes (1823) translates Latin de gustibus non est disputandum.
c.1300, "reckoning of money received and paid," from Old French acont "account, reckoning, terminal payment," from a "to" (see ad-) + cont "counting, reckoning of money to be paid," from Late Latin computus "a calculation," from Latin computare "calculate" (see compute).
Meaning "sum of (one's) money in a bank" is from 1833. Sense of "narration" is first attested 1610s. Plural accounts used as a collective or singular in phrases such as to give accounts (of something), is from mid-13c. Phrase by all accounts is attested from 1798.
c.1300, "to count, enumerate," from Old French aconter "to count, render account" (Modern French conter), from a "to" (see ad-) + conter "to count, tell" (see count (v.)). Meaning "to reckon for money given or received, render a reckoning," is from late 14c.; sense of "to explain" (c.1710) is from notion of "answer for money held in trust." Transferred sense of "value" is from late 14c. Related: Accounted; accounting.
The system of recording and auditing business transactions. (See audit.)