Arvestusest

Arvestusest is an Estonian term used to denote the field and practice of arvestus, commonly translated as accounting, calculation, or record-keeping. In standard usage, arvestusest refers to the methods, standards, and procedures used to measure, record, and report financial and resource data, as well as to related analysis and decision support. Grammatically, arvestusest is the genitive form of arvestus, reflecting how Estonian links concepts such as profession, process, and regulation.

The concept covers financial accounting, cost accounting, budgeting, auditing, and financial reporting, including the preparation of statements, compliance with standards, and internal controls. It also encompasses data analytics, performance measurement, and governance activities that support planning and accountability in organizations.

Historically, modern arvestusest developed with the adoption of formal accounting standards and public reporting in Estonia and Europe, accompanied by the adoption of EU frameworks and, later, IFRS for many entities. Digitalization and enterprise software have further shaped its practice, education, and professional standards.

In education and practice, arvestus is taught in economics and business programs and underpins professional qualifications for accountants and financial managers. The term remains common in government, business, and academic discourse as a generic label for the discipline and its application in everyday accounting tasks.