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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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4 days ago · 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.
The meaning of ACCOUNT FOR (SOMETHING) is to give a reason or explanation for (something). How to use account for (something) in a sentence.
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.
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 5, 2023 · An account balance is the amount of money available in a financial account, such as checking, savings, credit card, or investment accounts. It represents the net difference between credits and debits, reflecting the total financial transactions processed through the account.
Jan 3, 2024 · Any resource of the business organization that is owned by the organization and has a monetary value that can help generate revenue and is also available to meet the organization’s liabilities are the assets of the business. The assets are further classified into two different categories, which are as follows:
Jul 10, 2023 · According to modern approach, the accounts are classified as asset accounts, liability accounts, capital or owner’s equity accounts, withdrawal accounts, revenue/income accounts and expense accounts. 1. Asset accounts: Assets are things or items of value owned by a business and are usually divided into tangible or intangible.
Apr 6, 2024 · Accounts Payable, or AP in its abbreviated form, is a ledger entry made for amounts owed to creditors in the short-term, typically less than a year, on an open account. It is generally recorded as a collection of invoices and promissory notes received from a vendor.
Jun 20, 2024 · Savings accounts are bank or credit union accounts designed to keep your money safe while paying interest. Your savings account funds will be easily accessible, which can be ideal...
May 31, 2024 · Investopedia / Matthew Collins. Understanding the Current Account. The current account is one-half of the balance of payments, the other half being the capital account. While the capital...
