accounting

Meanings

• noun

  The process of recording, classifying, and summarizing financial transactions and tracking the resulting financial information.

  - "The company's accounting department is responsible for maintaining accurate financial records."
  - "The accounting for the quarter shows a profit of $50,000."

• noun

  The profession or occupation concerned with the preparation and maintaining of financial records.

  - "John decided to become an accountant after graduating from college."
  - "The accounting firm has offices in several major cities."

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Rhymes

Words rhyming with accounting
able , stable , table

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Variants

List of all variants of accounting that leads to same result
accounting , accountings , account , accounted , accounts , cost accounting , cost accountings , there's no accounting for taste

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Etymology

origin and the way in which meanings have changed throughout history.

From Old French contabilité, from contabler, to count.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The first known use of accounting was in ancient Egypt around 3000 BC.

2. The term 'accounting' comes from the Latin word 'computare,' which means 'to count.'

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Finance: Accounting is a crucial part of finance, as it provides the financial information necessary for making informed financial decisions.

2. Bookkeeping: Bookkeeping is the recording and maintaining of financial transactions in the order they occur.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Accounting has been an essential part of human civilization since ancient times. It has been used to record financial transactions, manage resources, and make informed business decisions. In literature, accounting has been depicted in works such as 'The Alchemist' by Paulo Coelho and 'The Great Gatsby' by F. Scott Fitzgerald. In music, there are songs about accounting, such as 'Money for Nothing' by Dire Straits.

How to Memorize "accounting"

1. visualize
   

   - Imagine a large ledger book where financial transactions are recorded.
   - Visualize a balance scale with one side representing income and the other side representing expenses.

2. associate
   

   - Associate the term 'accounting' with the concept of 'money'.
   - Think of accounting as the 'language' of business.

3. mnemonics
   

   - Use the acronym 'RASCI' (Responsible, Accountable, Supportive, Consulted, Informed) to remember the roles in project management.

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