ACCOUNTING

accountancy, accounting

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

accounting

(noun) a system that provides quantitative information about finances

accounting

(noun) a convincing explanation that reveals basic causes; “he was unable to give a clear accounting for his actions”

account, accounting, account statement

(noun) a statement of recent transactions and the resulting balance; “they send me an accounting every month”

accounting, accounting system, method of accounting

(noun) a bookkeeper’s chronological list of related debits and credits of a business; forms part of a ledger of accounts

Source: WordNet® 3.1

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Etymology

Verb

accounting

present participle of account

Noun

accounting (usually uncountable, plural accountings)

(business) The development and use of a system for recording and analyzing the financial transactions and financial status of an individual or a business.

A relaying of events; justification of actions.

(law) An equitable remedy requiring wrongfully obtained profits to be distributed to those who deserve them.

Adjective

accounting (not comparable)

Of or relating to accounting.

Source: Wiktionary

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ACCOUNT

Ac*count", n. Etym: [OE. acount, account, accompt, OF. acont, fr. aconter. See Account, v. t., Count, n., 1.]

1. A reckoning; computation; calculation; enumeration; a record of some reckoning; as, the Julian account of time. A beggarly account of empty boxes. Shak.

2. A registry of pecuniary transactions; a written or printed statement of business dealings or debts and credits, and also of other things subjected to a reckoning or review; as, to keep one's account at the bank.

3. A statement in general of reasons, causes, grounds, etc., explanatory of some event; as, no satisfactory account has been given of these phenomena. Hence, the word is often used simply for reason, ground, consideration, motive, etc.; as, on no account, on every account, on all accounts.

4. A statement of facts or occurrences; recital of transactions; a relation or narrative; a report; a description; as, an account of a battle. "A laudable account of the city of London." Howell.

5. A statement and explanation or vindication of one's conduct with reference to judgment thereon. Give an account of thy stewardship. Luke xvi. 2.

6. An estimate or estimation; valuation; judgment. "To stand high in your account." Shak.

7. Importance; worth; value; advantage; profit. "Men of account." Pope. "To turn to account." Shak. Account current, a running or continued account between two or more parties, or a statement of the particulars of such an account.

– In account with, in a relation requiring an account to be kept.

– On account of, for the sake of; by reason of; because of.

– On one's own account, for one's own interest or behalf.

– To make account, to have an opinion or expectation; to reckon. [Obs.] s other part . . . makes account to find no slender arguments for this assertion out of those very scriptures which are commonly urged against it. Milton.

– To make account of, to hold in estimation; to esteem; as, he makes small account of beauty.

– To take account of, or to take into account, to take into consideration; to notice. "Of their doings, God takes no account." Milton .

– A writ of account (Law), a writ which the plaintiff brings demanding that the defendant shall render his just account, or show good cause to the contrary; -- called also an action of account. Cowell.

Syn.

– Narrative; narration; relation; recital; description; explanation; rehearsal.

– Account, Narrative, Narration, Recital. These words are applied to different modes of rehearsing a series of events. Account turns attention not so much to the speaker as to the fact related, and more properly applies to the report of some single event, or a group of incidents taken as whole; as, an account of a battle, of a shipwreck, etc. A narrative is a continuous story of connected incidents, such as one friend might tell to another; as, a narrative of the events of a siege, a narrative of one's life, etc. Narration is usually the same as narrative, but is sometimes used to describe the mode of relating events; as, his powers of narration are uncommonly great. Recital denotes a series of events drawn out into minute particulars, usually expressing something which peculiarly interests the feelings of the speaker; as, the recital of one's wrongs, disappointments, sufferings, etc.

1. To reckon; to compute; to count. [Obs.] The motion of . . . the sun whereby years are accounted. Sir T. Browne.

2. To place to one's account; to put to the credit of; to assign; -- with to. [R.] Clarendon.

3. To value, estimate, or hold in opinion; to judge or consider; to deem. Accounting that God was able to raise him up. Heb. xi. 19.

4. To recount; to relate. [Obs.] Chaucer.

Ac*count", v. i.

1. To render or receive an account or relation of particulars; as, an officer must account with or to the treasurer for money received.

2. To render an account; to answer in judgment; -- with for; as, we must account for the use of our opportunities.

3. To give a satisfactory reason; to tell the cause of; to explain; - - with for; as, idleness accounts for poverty. To account of, to esteem; to prize; to value. Now used only in the passive. "I account of her beauty." Shak. Newer was preaching more accounted of than in the sixteenth century. Canon Robinson.

Source: Webster’s Unabridged Dictionary 1913 Edition

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