The Dictionary defines accounting as a written record of money that is owed to a business and of money that has been paid by it (noun).
It also defines it as act of providing the records of a business (verb).
The above definitions show that accounting means explanation for something. For example, a man may ask his wife to account for the bag of
beans consumed during the last Christmas period; a father may ask his son to
account for the lessons he claimed to have attended the previous day. What
these statements imply is that in the first instance, the husband only needs an
explanation of how the bag of beans was actually consumed. In the second
statement, the father wants explanation to prove that the son attended the
lessons he claimed to have attended the previous day. This explains the fact
that the term account simply means explanation for something.
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