accounting

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Pronunciation

• IPA: /ə.ˈkaʊn.tɪŋ/

Verb

1. present participle of account#English|account

Noun

accounting (uncountable)

1. (business) The development and use of a system for recording and analyzing the financial transactions and financial status of an individual or a business.
2. A relaying of events; justification of actions.

   He was required to give a thorough accounting of his time.

3. (law) An equitable remedy requiring wrongfully obtained profits to be distributed to those who deserve them.
   • 2020, Liu v. SEC (U.S. Supreme Court No. 18-1501), Justice Thomas dissenting:

     In contrast, an accounting for profits, or accounting— a distinct form of relief that the majority groups with disgorgement — has a well-accepted definition: It compels a defendant to account for, and repay to a plaintiff, those profits that belong to the plaintiff in equity.

Translations

• French: comptabilité
• German: Buchhaltung
• Italian: contabilità
• Portuguese: contabilidade
• Russian: бухгалте́рия
• Spanish: contabilidad

Adjective

accounting (not comparable)

1. Of or relating to accounting#Noun|accounting.

   General accepted accounting principles

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