accompting

Verb

accompt (third-person singular simple present accompts, present participle accompting, simple past and past participle accompted)

1. (archaic) To account.
   • Watch ye therefore, and pray alwayes, that ye may be accompted worthy to escape all these things that shall come to passe, and to stand before the sonne of man.1611, The Holy Bible, […] (King James Version), London: […] Robert Barker, […], →OCLC, Luke 21:36

See all 2 meanings of accompt

Noun

accounting (usually uncountable, plural accountings)

1. (usually) The development and use of a system for recording and analyzing the financial transactions and financial status of an individual or a business.
   • British Railways are beginning to reap the advantages of electronics applied to accounting. At Swindon Works, a computor, the first of its type to be used anywhere in the world, was installed recently to deal with the pay of some 10,000 employees.1957 November, “Electronics in Railway Accountancy”, in Railway Magazine, page 746
2. (usually) A relaying of events; justification of actions.
   • He was required to give a thorough accounting of his time.
3. (usually) An equitable remedy requiring wrongfully obtained profits to be distributed to those who deserve them.
   • In contrast, an accounting for profits, or accounting— a distinct form of relief that the majority groups with disgorgement — has a well-accepted definition: It compels a defendant to account for, and repay to a plaintiff, those profits that belong to the plaintiff in equity.2020, Liu v. SEC (U.S. Supreme Court No. 18-1501), Justice Thomas dissenting