accounting vs audit
audit vs accountingaccounting and audit both are nouns.
accounting is not a verb while audit is a verb.
| Word | Noun | Adjective | Verb | Adverb |
|---|---|---|---|---|
| accounting | Yes | No | No | No |
| audit | Yes | No | Yes | No |
As nouns,
audit is a hyponym of
accounting; that is, audit is a
word with a more specific, narrower meaning than
accounting:
- accounting: a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
- audit: an inspection of the accounting procedures and records by a trained accountant or CPA
Other hyponyms of accounting include
control account, accounting entry, entry, ledger entry, credit side, debit side, accrual basis, cash basis, pooling of interest, audited account, limited review, review.
| accounting (noun) | audit (noun) |
|---|---|
| the occupation of maintaining and auditing records and preparing financial reports for a business | a methodical examination or review of a condition or situation |
| a system that provides quantitative information about finances | an inspection of the accounting procedures and records by a trained accountant or CPA |
| a convincing explanation that reveals basic causes | |
| a statement of recent transactions and the resulting balance | |
| a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts |
| accounting (verb) | audit (verb) |
|---|---|
| attend academic courses without getting credit | |
| examine carefully for accuracy with the intent of verification |
Words related to "accounting"
- account
- account book
- account statement
- accountancy
- accounting entry
- accounting system
- accrual basis
- audit
- audited account
- balance
- balance of international payments
- balance of payments
- book
- book of account
- bookkeeping
- business
- capital account
- carry forward
- carry over
- cash basis
- clerking
- control account
- cost accounting
- credit side
- current account
- debit
- debit side
- declining balance method
- declining balance method of depreciation
- entry
- expense account
- explanation
- financial statement
- good will
- goodwill
- internal control
- inventory
- inventory accounting
- job
- ledger
- ledger entry
- leger
- limited review
- line
- line of work
- method of accounting
- occupation
- pooling of interest
- profit and loss
- profit and loss account
- register
- review
- statement
- straight-line method
- straight-line method of depreciation
- suspense account
- system
- system of rules
- travel and entertainment account
- unbalanced
- unearned income
- unearned revenue
- write-down
- write-off
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