Accounting (Noun)
Meaning 1
A bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company's accounting for the previous quarter was a mess, with several errors and discrepancies that needed to be corrected.
- The bookkeeper spent hours reviewing the accounting for the new employee's benefits package to ensure everything was accurate.
- The accounting for the small business was done manually, with the owner using a spreadsheet to track income and expenses.
- The auditor examined the accounting for the company's assets to verify their value and ensure they were properly recorded.
- The accounting for the non-profit organization was complex, with multiple grants and donations that needed to be tracked and reported separately.
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Meaning 2
A statement of recent transactions and the resulting balance; "they send me an accounting every month".
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company provided an accounting of all expenses at the end of the year for tax purposes.
- She received an accounting from her bank every month that detailed all her transactions.
- The charity sent him an accounting of how his donation had been used to support the cause.
- The investor requested a detailed accounting of the financial activities of the firm before making a decision.
- At the end of the quarter, the business sent out an accounting to all members, summarizing spending and earnings.
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Meaning 3
The occupation of maintaining and auditing records and preparing financial reports for a business.
Classification
Nouns denoting acts or actions.
Examples
- The company hired a new employee to work in the accounting department to help with tax season.
- She studied accounting in college and now works as a certified public accountant for a large firm.
- The accounting software helped the small business owner to easily track expenses and generate financial reports.
- The accounting firm was hired to audit the company's financial records and ensure they were accurate.
- He decided to pursue a career in accounting after working as a bookkeeper for several years.
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Meaning 4
A convincing explanation that reveals basic causes; "he was unable to give a clear accounting for his actions".
Classification
Nouns denoting communicative processes and contents.
Examples
- She failed to provide a convincing accounting of how she managed to graduate without paying any tuition.
- He offered no clear accounting of how he came into possession of the expensive car.
- She tried to come up with an accounting for why the team performed poorly during the competition.
- A forensic analysis will give us an exact accounting of how the software company went bankrupt.
- As part of his public apology, the executive promised to provide a detailed accounting of the scandal.
Hypernyms
Meaning 5
A system that provides quantitative information about finances.
Classification
Nouns denoting cognitive processes and contents.
Examples
- The company's accounting system helped the management make informed decisions about investments and budget allocation.
- Accounting data revealed a significant discrepancy in the company's expenses, prompting an investigation.
- The accounting software provided a detailed breakdown of the company's assets, liabilities, and equity.
- She majored in accounting in college and now works as a financial analyst for a large corporation.
- The company's accounting practices were found to be non-compliant with regulatory standards, resulting in hefty fines.