Accounting: meaning, definitions and examples

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accounting

[ əˈkaʊntɪŋ ]

^{Context #1}

business finance

The process of keeping financial records and preparing financial statements for a business.

Synonyms

auditing, bookkeeping

Examples of usage

She has a degree in accounting.
The company hired an accounting firm to handle their finances.

^{Context #2}

job description

The profession or practice of managing financial accounts.

Synonyms

auditing, finance

Examples of usage

He works in the accounting department.
She is studying accounting to become a CPA.

Translations

Translations of the word "accounting" in other languages:

🇵🇹 contabilidade

🇮🇳 लेखांकन

🇩🇪 Buchhaltung

🇮🇩 akuntansi

🇺🇦 бухгалтерія

🇵🇱 rachunkowość

🇯🇵 会計

🇫🇷 comptabilité

🇪🇸 contabilidad

🇹🇷 muhasebe

🇰🇷 회계

🇸🇦 محاسبة

🇨🇿 účetnictví

🇸🇰 účtovníctvo

🇨🇳 会计

🇸🇮 računovodstvo

🇮🇸 bókhald

🇰🇿 бухгалтерлік есеп

🇬🇪 ბუღალტერია

🇦🇿 mühasibat

🇲🇽 contabilidad

Word origin

The word 'accounting' originates from the Middle English word 'accounten' which means 'to count'. The practice of accounting dates back to ancient civilizations such as Mesopotamia and Ancient Egypt, where records of financial transactions were kept on clay tablets. Modern accounting principles were developed in the 15th century by Luca Pacioli, an Italian mathematician. Accounting plays a crucial role in business and finance, providing insights into the financial health of organizations.