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- Dictionaryaccount/əˈkaʊnt/
noun
- 1. a report or description of an event or experience: "a detailed account of what has been achieved" Similar
- 2. a record or statement of financial expenditure and receipts relating to a particular period or purpose: "the barman was doing his accounts" Similar
verb
- 1. consider or regard in a specified way: "her visit could not be accounted a success"
- 2. prepare or present a record an account of money given or received: rare "in order that he may be able to account accurately, the trustee should not mingle the trust property with other property"
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Jul 10, 2024 · Key Takeaways. A chart of accounts is a list of the names of a company’s accounts in its general ledger. A COA is an organizational tool that makes financial transactions easier to understand at a glance. A COA has five main subcategories: revenue, expenses, assets, liabilities, and equity.
Dec 14, 2023 · An account can refer to a general ledger account, a customer account, or a sale that is made on account, depending on the context.
Oct 24, 2023 · Accounting encompasses a broad set of activities, from basic bookkeeping to analyzing the company’s financial health, forecasting revenue, preparing taxes and ensuring legal compliance. Businesses use five main types of accounting: managerial, cost, project, tax and financial accounting.
Apr 11, 2024 · Accrual accounting differs from cash accounting because it includes revenue that has yet to be collected (accounts receivable) and expenses that have yet to be paid out (accounts payable). How Does It Work?
Jul 9, 2024 · Accounting involves recording, classifying, organizing, and documenting financial transactions and data for internal tracking and reporting purposes. Businesses of all sizes use accounting to remain legally compliant and measure and assess their financial health.
Jul 17, 2024 · 1. : to give a reason or explanation for (something) How do you account for your success? 2. : to be the cause of (something) These new features account for the computer's higher price. 3. : to make up or form (a part of something) Women account for only 25 percent of our employees. 4.
Nov 21, 2023 · Understand the meaning of accounts in accounting. Explore the types of accounts in accounting and see the characteristics of these account categories.
Jul 17, 2024 · A checking account is an account held at a financial institution that allows deposits and withdrawals. Learn how checking accounts work and how to get one.
Jul 16, 2024 · The meaning of ACCOUNT FOR (SOMEONE OR SOMETHING) is to show what happened to (someone or something) : know where (something or someone) is. How to use account for (someone or something) in a sentence.
Jun 26, 2024 · Key Takeaways: The 5 primary account categories are assets, liabilities, equity, expenses, and income (revenue) Once you understand how debits and credits affect the above accounts, it’s easier to determine where to place your sub-accounts.
