ACCOUNT

Account

Accounting is a systematic way to record transactions. An account refers to assets, liabilities, income, expenses, and equity, as represented by individual ledger pages, to which changes in value are chronologically recorded with debit and credit entries. These entries, referred to as postings, become part of a book of final entry or ledger. Examples of common financial accounts are cash, accounts receivable, mortgages, loans, PP&E, common stock, sales, services, wages, and payroll.

The above text is a snippet from Wikipedia: Account (accountancy)
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account

Noun

  1. A registry of pecuniary transactions; a written or printed statement of business dealings or debts and credits, and also of other things subjected to a reckoning or review
  2. A sum of money deposited at a bank and subject to withdrawal.
    to keep one's account at the bank.
  3. A statement in general of reasons, causes, grounds, etc., explanatory of some event; a reason of an action to be done.
    No satisfactory account has been given of these phenomena.
  4. A reason, grounds, consideration, motive.
    on no account
    on every account
    on all accounts
  5. A business relationship involving the exchange of money and credit.
  6. A record of events; recital of transactions; a relation or narrative; a report; a description
    An account of a battle.
  7. A statement explaining one's conduct.
  8. An estimate or estimation; valuation; judgment.
  9. Importance; worth; value; esteem; judgement.
  10. An authorization to use a service.
    I've opened an account with Wikipedia so that I can contribute and partake in the project.
  11. A reckoning; computation; calculation; enumeration; a record of some reckoning.
  12. Profit; advantage.

Verb

  1. to provide explanation
    1. To present an account of; to answer for, to justify.
    2. To give an account of financial transactions, money received etc.
    3. To estimate, consider (something to be as described).
      1. To consider .
      2. To give a satisfactory evaluation financial transactions, money received etc.
An officer must account with or to the treasurer for money received.
  1. To give a satisfactory evaluation (one's actions, behaviour etc.); to answer .
    We must account for the use of our opportunities.
  2. To give a satisfactory reason ; to explain.
    Idleness accounts for poverty.
  3. To establish the location someone.
    After the crash, not all passengers were accounted for.
  4. To cause the death, capture, or destruction of someone or something (+ ).
  1. to count
    1. To calculate, work out (especially with periods of time).
      1. To count (up), enumerate.
    2. To recount, relate (a narrative etc.).


The above text is a snippet from Wiktionary: account
and as such is available under the Creative Commons Attribution/Share-Alike License.

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