Meaning of ACCOUNTING in English

ACCOUNTING

noun

( -s )

Etymology: Middle English, from gerund of accounten to account

1.

a. : the system of classifying, recording, and summarizing business and financial transactions in books of account and analyzing, verifying, and reporting the results

b. : the body of principles, conventions, and procedures underlying accounting — distinguished from bookkeeping

2.

a. : practical application of accounting — see cost accounting , public accounting

b. : an instance of applying the principles, conventions, and procedures of accounting to the financial condition of an individual or individual organization

3. : the presenting or stating of accounts

the treasurer rendered his annual accounting

4. : the process of devising and installing systems of accounts

Webster's New International English Dictionary.      Новый международный словарь английского языка Webster.