- 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).
- a detailed report of the financial state or transactions of a person or entity: an accounting of the estate.
- the rendering or submission of such a report.
- the skill or practice of maintaining and auditing accounts and preparing reports on the assets, liabilities, etc, of a business
- (as modifier)an accounting period; accounting entity
“reckoning of numbers,” late 14c., verbal noun from account (v.). Phrase no accounting for tastes (1823) translates Latin de gustibus non est disputandum.
The system of recording and auditing business transactions. (See audit.)