accounting

noun

measurement, processing and communication of financial information about economic entities
deal with, explain, give/tell report or explanation

Pronunciation: /əˈkaʊn.tɪŋ/

Etymology: * First attested in the late 14th century. * account + -ing

The development and use of a system for recording and analyzing the financial transactions and financial status of an individual or a business.
“British Railways are beginning to reap the advantages of electronics applied to accounting. At Swindon Works, a computor, the first of its type to be used anywhere in the world, was installed recently to deal with the pay of some 10,000 employees.”
A relaying of events; justification of actions.
“He was required to give a thorough accounting of his time.”
An equitable remedy requiring wrongfully obtained profits to be distributed to those who deserve them.
“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.”

Etymology: * First attested in the late 14th century. * account + -ing

present participle and gerund of account
“For quotations using this term, see Citations:accounting.”