accounting

accounting
ac·count·ing n
1: an often court-ordered presentment or examination of accounts
a complete accounting would be necessary to determine the nature of the expenditures — Case & Comment
2: the settlement by judicial action of the assets of a partnership (as upon dissolution)

Merriam-Webster’s Dictionary of Law. . 1996.

accounting
I noun auditing, bookkeeping, complete report, computation, full report, fully detailed analysis, reckoning associated concepts: account stated, accounting officer, accounts receivable II index attribution, computation

Burton's Legal Thesaurus. . 2006


accounting
n.
(1) A system of keeping financial records.
(2) An action in equity to settle the finances of a partnership.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


accounting
The process by which financial information about a business is recorded and analyzed.
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.


accounting
n.
1 The act or a system of establishing how the assets of a business, estate, trust, or other similar entity were managed and disposed of.
2 In equity, a legal action to require one, usually a fiduciary or a constructive trustee, to account for and pay over funds held by them but owed to another.
See also account.
3 In equity, a legal action for the recovery of funds owed for services performed, property sold, money loaned, or for damage for the incomplete performance of minor contracts.
See also account.
4 A legal action to complete or settle all of a partnership's affairs. Usually done in connection with the dissolution of the partnership or with allegations of a partner's misconduct.
See also winding up.

Webster's New World Law Dictionary. . 2000.


accounting
A system of recording or settling accounts in financial transactions; the methods of determining income and expenses for tax and other financial purposes. Also, one of the remedies available for enforcing a right or redressing a wrong asserted in a lawsuit.

Dictionary from West's Encyclopedia of American Law. 2005.


accounting
A system of recording or settling accounts in financial transactions; the methods of determining income and expenses for tax and other financial purposes. Also, one of the remedies available for enforcing a right or redressing a wrong asserted in a lawsuit.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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Look at other dictionaries:

  • accounting — ac‧coun‧ting [əˈkaʊntɪŋ] noun [uncountable] 1. ACCOUNTING JOBS the usual word for the profession of accountancy in the US 2. ACCOUNTING the work of keeping a company s financial records, recording its income and expenses, and its business deals:… …   Financial and business terms

  • accounting — (n.) reckoning of numbers, late 14c., from prp. of ACCOUNT (Cf. account) (v.). Phrase no accounting for tastes (1823) translates Latin de gustibus non est disputandum …   Etymology dictionary

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  • accounting — ► NOUN ▪ the keeping of financial accounts …   English terms dictionary

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  • accounting — /euh kown ting/, n. 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.… …   Universalium

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  • accounting — An act or a system of making up or settling accounts, consisting of a statement of account with debits and credits arising from relationship of parties. State ex rel. King v. Harvey, Miss., 214 So.2d 817, 819. Rendition of an account, either… …   Black's law dictionary

  • accounting — An act or a system of making up or settling accounts, consisting of a statement of account with debits and credits arising from relationship of parties. State ex rel. King v. Harvey, Miss., 214 So.2d 817, 819. Rendition of an account, either… …   Black's law dictionary

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