accounting

Noun
  1. A convincing explanation that reveals basic causes (synset 106752258)
    "he was unable to give a clear accounting for his actions"
    is a type of: account, explanation - a statement that makes something comprehensible by describing the relevant structure or operation or circumstances etc.
  2. A system that provides quantitative information about finances (synset 105670377)
    associated with:
    • 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.
    • unearned income, unearned revenue - (accounting) income received but not yet earned (usually considered a current liability on a company's balance sheet)
    • 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
    • write-down, write-off - (accounting) reduction in the book value of an asset
    • good will, goodwill - (accounting) an intangible asset valued according to the advantage or reputation a business has acquired (over and above its tangible assets)
    • 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
    • inventory - (accounting) the value of a firm's current assets including raw materials and work in progress and finished goods
    • debit - enter as debit
    • unbalanced - debits and credits are not equal
    is a type of: system, system of rules - a complex of methods or rules governing behavior
    subtypes:
  3. The occupation of maintaining and auditing records and preparing financial reports for a business (synset 100619974)
    associated with: carry forward, carry over - transfer from one time period to the next
    is a type of: business, job, line, line of work, occupation - the principal activity in your life that you do to earn money
    subtypes:
    same as: accountancy
  4. A bookkeeper's chronological list of related debits and credits of a business;
    Forms part of a ledger of accounts (synset 113427135)
    is a type of: register - a book in which names and transactions are listed
    subtypes:
    • control account - an account that shows totals of amounts entered in a subsidiary ledger
    • accounting entry, entry, ledger entry - a written record of a commercial transaction
    • credit side - account of payments received; usually the right side of a financial statement
    • debit side - account of payments owed; usually the left side of a financial statement
    • 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
    • cash basis - a method of accounting in which each item is entered as payments are received or made
    • 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
    • audit, audited account - an inspection of the accounting procedures and records by a trained accountant or CPA
    • 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
    belongs to: account book, book, book of account, ledger, leger - a record in which commercial accounts are recorded
    same as: accounting system, method of accounting
  5. A statement of recent transactions and the resulting balance (synset 113376000)
    "they send me an accounting every month"
    is a type of: financial statement, statement - a document showing credits and debits
    subtypes:
    • 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
    has: balance - equality between the totals of the credit and debit sides of an account
    same as: account, account statement

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