Accounting

Definition

1) The procedure of recording, analyzing, summarizing and classifying the financial transactions and information of a person or business which aids in accurate administration of resources. 

2) A plaintiff's legal action to recover money owed to the plaintiff by the defendant. Also known as accounting for profits.

Illustrative caselaw

See, e.g. Free Enterprise Fund v. Public Co. Accounting Oversight Bd., 130 S.Ct. 3138 (2010).

See also