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Online Accounting Degrees
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Accounting Definition–noun | 1. | the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc. (distinguished from bookkeeping). |
| 2. | a detailed report of the financial state or transactions of a person or entity: an accounting of the estate. |
| 3. | the rendering or submission of such a report. |
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From Dictionary
Related topics from Britannicaaccounting
systematic development and analysis of information about the economic affairs of an organization. This information may be used in a number of ways: by a firm's managers to help them plan and control ...
national income accounting
a set of principles and methods used to measure the income and production of a country. There are basically two ways of measuring national economic activity: as the money value of the total ...
accounting
Although published financial statements are the most widely visible products of business accounting systems and the ones with which the public is most concerned, they represent only a small portion ...
accounting
Accounting systems are designed mainly to provide information that managers and outsiders can use in decision making. They also serve other purposes: to produce operating documents, to protect the ...
accounting
A generally accepted international accounting standard, or a common business language across national borders, serves the global economy in two distinct ways. First, it reduces the costs of doing ...
international payment and exchange
The balance-of-payments accounts provide a record of transactions between the residents of one country and the residents of foreign nations. The two types of accounts used are the current account and ...
economic stabilizer
government budget
Traditionally the budget is presented to allow scrutiny (by taxpayers, voters, and the legislature) of the resources raised by government and the uses to which these will be put. The publication of a ...
accounting
The primary output of the financial accounting system is the annual financial statement. The three most common components of a financial statement are the balance sheet, the income statement, and the ...
accounting
In preparing financial statements, the accountant must select from a variety of measurement systems, often standardized by industry or government regulation, that guide the calculation of assets and ...
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