accounting

• First attested in the late 14th century.
• account +‎ -ing

• IPA^(key): /ə.ˈkaʊn.tɪŋ/

• Audio (Southern England)

  (file)

accounting

1. present participle and gerund of account

accounting (usually uncountable, plural accountings)

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.

• accountancy