The systematic recording, reporting, and analysis of financial transactions of a business.

The person in charge of accounting is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accounting Principles.

Accounting allows a company to analyze the financial performance of the business, and look at statistics such as net profit.

See also: List of Key Accounting Terms and Definitions at

Use accounting in a sentence

At the end of the month, Sarah's supervisor showed her how to fill out an expense report and submit it to the accounting department at their company.

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You should try and make sure that you have a good accounting team on hand so that you can always have good records.

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The student was very interested in accounting as he loved the practice of tracking detailed transactions of each of the activities the business engaged in.

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Modified Dietz Method end-of-year convention