Should auld acquaintance be forgot... also known as the opening lyrics to the famous song Auld Lang Syne - but what does it mean? 

The verse, written by legendary Scottish poet Robert Burns in 1788, is traditionally sung at New Year's gatherings in Scotland and around the world.

At the stroke of midnight, the gathering comes together to sing the tune as they bid farewell to the old year and welcome in the new.

Here is everything you need to know about the song as you bring in the bells and Happy New Year when it comes.

The Northern Echo: See what Auld Lang Syne literally means (PA)See what Auld Lang Syne literally means (PA) (Image: PA)

Auld Lang Syne literal meaning in English and what it's about

Auld Lang Syne is understood to mean "for the sake of old times" or "time gone by".

A more literal translation of auld lang syne would read as"old long since".

The song describes a pair of friends reminiscing and raising a drink for old time’s sake.

The instantly recognisable tune of Auld Lang Syne can be heard playing on the bagpipes in this New Year message from the Royal Family.

Words to Auld Lang Syne

While the original is, of course, Scots verse, possibly the most recognisable lyrics, and the ones most people sing, are the traditional English translation below.

Should old acquaintance be forgot,
and never brought to mind?
Should old acquaintance be forgot,
and auld lang syne?

Chorus:
For auld lang syne, my dear,
for auld lang syne,
we'll take a cup of kindness yet,
for auld lang syne.

And surely you'll buy your pint cup!
and surely I'll buy mine!
And we'll take a cup o' kindness yet,
for auld lang syne.

Chorus

We two have run about the hills,
and picked the daisies fine;
But we've wandered many a weary foot,
since auld lang syne.

Chorus

We two have paddled in the stream,
from morning sun till dine;
But seas between us broad have roared
since auld lang syne.

Chorus

And there's a hand my trusty friend!
And give me a hand o' thine!
And we'll take a right good-will draught,
for auld lang syne.

Chorus

READ MORE: New Year’s Eve weather: Met Office forecasts rain and wind

READ MORE: Why do we hold hands as we sing Auld Lang Syne on New Year's Eve?

How do you pronounce 'Auld Lang Syne'?

Auld Lang Syne is pronounced like Awld - Lang - Zyn.

The song, which did not appear until after Burns's death, has been translated into many different languages and is now sung around the world.

In Japan, the song is something of a school anthem and is often heard at graduation ceremonies and when shops and restaurants close for the night.

The song has also found its way to Mexico at farewell parties and it is also the tune of the Dutch football song 'We love Orange'.

Why do we hold hands during Auld Lang Syne?

Millions of people around the world link hands when they bring in the New Year and sing their hearts out to Auld Lang Syne. 

Its origins as a Hogmanay tradition are said to come from freemasonry, according to researchers from the University of Edinburgh. 

People would sing with their arms crossed and hands joined as a parting ritual at many Masonic lodges, the BBC reported.