A DBA can be highly beneficial for business marketing, but setting up bank accounts in the name of a DBA rather than in the legal name of the individual or entity that owns the business can be complex and require documentation proving that you have a right to use the business name.
Most businesses use double entry accounting, a system in which every financial event causes two transactions, a debit in one account and an equal offsetting credit in another account. When a company establishes an accounting system, it must choose to use either a single entry system or a double entry system.
Wiktionary (0.00 / 0 votes) Rate this definition: accounting (Noun). The development and use of a system for recording and analyzing the financial transactions and financial status of a business or other organization.accounting (Noun). A relaying of events; justification of actions.ccounting, which has been called the language of business, measures the results of an organization's economic activities and conveys this information to a variety of users including investors, creditors, management, and regulators.