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Accounting: meaning, definitions and examples

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accounting

 

[ əˈkaʊntɪŋ ]

Noun
Context #1 | Noun

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 | Noun

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

Etymology

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.

See also: account, accountabilities, accountability, accountable, accountably, accountant, accounts, unaccountable.

Word Frequency Rank

At position #2,488, this word belongs to solid intermediate vocabulary. It's frequently used in both casual and formal contexts and is worth learning for better fluency.