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ACCOUNTING
| Pronunciation (US): |  | (GB): | |
I. (noun)
Sense 1
Meaning:
The occupation of maintaining and auditing records and preparing financial reports for a business
Synonyms:
accountancy; accounting
Classified under:
Nouns denoting acts or actions
Hypernyms ("accounting" is a kind of...):
business; job; line; line of work; occupation (the principal activity in your life that you do to earn money)
Domain member category:
carry forward; carry over (transfer from one time period to the next)
Hyponyms (each of the following is a kind of "accounting"):
cost accounting (keeping account of the costs of items in production)
bookkeeping; clerking (the activity of recording business transactions)
inventory accounting (accounting that controls and evaluates inventory)
Derivation:
account (keep an account of)
Sense 2
Meaning:
A system that provides quantitative information about finances
Classified under:
Nouns denoting cognitive processes and contents
Hypernyms ("accounting" is a kind of...):
system; system of rules (a complex of methods or rules governing behavior)
Domain member category:
unbalanced (debits and credits are not equal)
debit (enter as debit)
inventory ((accounting) the value of a firm's current assets including raw materials and work in progress and finished goods)
limited review; review ((accounting) a service (less exhaustive than an audit) that provides some assurance to interested parties as to the reliability of financial data)
good will; goodwill ((accounting) an intangible asset valued according to the advantage or reputation a business has acquired (over and above its tangible assets))
write-down; write-off ((accounting) reduction in the book value of an asset)
straight-line method; straight-line method of depreciation ((accounting) a method of calculating depreciation by taking an equal amount of the asset's cost as an expense for each year of the asset's useful life)
unearned income; unearned revenue ((accounting) income received but not yet earned (usually considered a current liability on a company's balance sheet))
internal control (an accounting procedure or system designed to promote efficiency or assure the implementation of a policy or safeguard assets or avoid fraud and error etc.)
Hyponyms (each of the following is a kind of "accounting"):
balance of international payments; balance of payments (a system of recording all of a country's economic transactions with the rest of the world over a period of one year)
current account (that part of the balance of payments recording a nation's exports and imports of goods and services and transfer payments)
Derivation:
account (keep an account of)
Sense 3
Meaning:
A convincing explanation that reveals basic causes
Example:
he was unable to give a clear accounting for his actions
Classified under:
Nouns denoting communicative processes and contents
Hypernyms ("accounting" is a kind of...):
account; explanation (a statement that makes something comprehensible by describing the relevant structure or operation or circumstances etc.)
Sense 4
Meaning:
A statement of recent transactions and the resulting balance
Example:
they send me an accounting every month
Synonyms:
account; account statement; accounting
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("accounting" is a kind of...):
financial statement; statement (a document showing credits and debits)
Meronyms (parts of "accounting"):
balance (equality between the totals of the credit and debit sides of an account)
Hyponyms (each of the following is a kind of "accounting"):
capital account ((finance) an account of the net value of a business at a specified date)
capital account ((economics) that part of the balance of payments recording a nation's outflow and inflow of financial securities)
profit and loss; profit and loss account (an account compiled at the end of an accounting period to show gross and net profit or loss)
suspense account (an account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent classification)
expense account; travel and entertainment account (an account to which salespersons or executives can charge travel and entertainment expenses)
Derivation:
account (keep an account of)
Sense 5
Meaning:
A bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
Synonyms:
accounting; accounting system; method of accounting
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("accounting" is a kind of...):
register (a book in which names and transactions are listed)
Hyponyms (each of the following is a kind of "accounting"):
limited review; review ((accounting) a service (less exhaustive than an audit) that provides some assurance to interested parties as to the reliability of financial data)
audit; audited account (an inspection of the accounting procedures and records by a trained accountant or CPA)
pooling of interest (an accounting method used in the merging of companies; the balance sheets are added together item by item; this method is tax-free)
cash basis (a method of accounting in which each item is entered as payments are received or made)
accrual basis (a method of accounting in which each item is entered as it is earned or incurred regardless of when actual payments are received or made)
debit side (account of payments owed; usually the left side of a financial statement)
credit side (account of payments received; usually the right side of a financial statement)
accounting entry; entry; ledger entry (a written record of a commercial transaction)
control account (an account that shows totals of amounts entered in a subsidiary ledger)
Holonyms ("accounting" is a member of...):
account book; book; book of account; ledger; leger (a record in which commercial accounts are recorded)
Derivation:
account (keep an account of)
II. (verb)
Sense 1
-ing form of the verb account
Context examples:
The most common form of SCID, accounting for about 50% of autosomal recessive cases.
(Adenosine Deaminase Deficiency, NCI Thesaurus)
This relationship remained after accounting for factors including age, sex, race, parental education, household income and birth-weight.
(Childhood obesity linked to structural differences in key brain regions, University of Cambridge)
This gives it an equilibrium temperature — calculated without accounting for the additional warming effects of a possible atmosphere — of around 490 degrees Fahrenheit (254 degrees Celsius).
(Confirmation of Toasty TESS Planet Leads to Surprising Find of Promising World, NASA)
I am inclined to the latter way of accounting for it.
(The Sea-Wolf, by Jack London)
It was not born of any knowledge of his, yet it was the visible expression of the fear that was in him, and for which, in his own life, there was no accounting.
(White Fang, by Jack London)
There—I have saved you the trouble of accounting for it; and really, all things considered, I begin to think it perfectly reasonable.
(Pride and Prejudice, by Jane Austen)
Through this study, researchers wanted to know if living in a deprived area can also influence the mental health of men and women – even after accounting for personal circumstances.
(Depression - men far more at risk than women in deprived areas, University of Cambridge)
Perhaps you’ll catch the eye of someone new at work who might work in the accounting or budgeting department.
(AstrologyZone.com, by Susan Miller)
After accounting for age, sex, race and baseline weight, the researchers found that the people who lost the least weight during the calorie-reduced period were those whose metabolism decreased the most during fasting.
(Ease of weight loss influenced by individual biology, NIH)
It is much more extended in one direction than in the other and so looks squashed on one side even after accounting for its inclined projection on the sky.
(Hubble Finds Huge System of Dusty Material Enveloping the Young Star HR 4796A, NASA)
