The Collaborative International Dictionary of English v.0.48:

Account \Ac*count"\, v. t. [imp. & p. p. Accounted; p. pr. &
   vb. n. Accounting.] [OE. acounten, accompten, OF. aconter,
   [`a] (L. ad) + conter to count. F. conter to tell, compter to
   count, L. computare. See Count, v. t.]
   [1913 Webster]
   1. To reckon; to compute; to count. [Obs.]
      [1913 Webster]

            The motion of . . . the sun whereby years are
            accounted.                            --Sir T.
                                                  Browne.
      [1913 Webster]

   2. To place to one's account; to put to the credit of; to
      assign; -- with to. [R.] --Clarendon.
      [1913 Webster]

   3. To value, estimate, or hold in opinion; to judge or
      consider; to deem.
      [1913 Webster]

            Accounting that God was able to raise him up. --Heb.
                                                  xi. 19.
      [1913 Webster]

   4. To recount; to relate. [Obs.] --Chaucer.
      [1913 Webster]

WordNet (r) 3.0 (2006):

accounting
    n 1: a convincing explanation that reveals basic causes; "he was
         unable to give a clear accounting for his actions"
    2: a system that provides quantitative information about
       finances
    3: the occupation of maintaining and auditing records and
       preparing financial reports for a business [syn:
       accountancy, accounting]
    4: a bookkeeper's chronological list of related debits and
       credits of a business; forms part of a ledger of accounts
       [syn: accounting, accounting system, method of
       accounting]
    5: a statement of recent transactions and the resulting balance;
       "they send me an accounting every month" [syn: account,
       accounting, account statement]