Q:

What is the abbreviation of the word "accounting?"

A:

According to Purdue University, the abbreviation for the word "accounting" is "ACCT." Sometimes all capital letters are used, but punctuation is always included. The accounting field uses several abbreviations for terms common to the profession.

The word "account" also uses the abbreviation "ACCT." in some contexts, but this word usually follows the abbreviation "ACC." As a plural, the abbreviation "ACCS." is used for "accounts." "Accounts" also uses the abbreviation "ACCTS." in some contexts. While these abbreviations work for the terms "accounting," "account" and "accounts," each accountant or organization may have its own preferences for the abbreviation it likes to use in its operations.

Sources:

  1. purdue.edu

Is this answer helpful?

Similar Questions

  • Q:

    What is an accounting voucher?

    A:

    An accounting or accounts payable voucher is a document used as an internal control mechanism in the invoicing process. The voucher is filled out after a three-way match of the invoice, purchase order and receiving report.

    Full Answer >
    Filed Under:
  • Q:

    Why is accounting important to business?

    A:

    Accounting allows businesses to calculate their profit and perform analyses. Accounting is important for determining if a company's earnings reports are accurate, making it important for stockholders and regulators.

    Full Answer >
    Filed Under:
  • Q:

    What is the difference between accounting and bookkeeping?

    A:

    Bookkeeping involves recording basic accounting transactions such as recording invoices from suppliers, paying suppliers, processing payroll and recording cash received from customers. Bookkeeping is a subset of accounting. Accounting is usually more involved and includes activities such as creating financial statements, creating budgets and compiling tax returns.

    Full Answer >
    Filed Under:
  • Q:

    What is managerial accounting?

    A:

    Managerial accounting, also called management accounting, is the manipulation of a company's financial information to allow managers to make informed business decisions, according to the American Institute of CPAs. Managerial accounting systems are generally designed to measure the efficiency of internal processes.

    Full Answer >
    Filed Under:

Explore