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In accountancy, an account is a label for recording a quantity of almost anything. Most often it is a record of an amount of money owned or owed by or to a particular person or entity, or allocated to a particular purpose. It may represent amounts of money that have actually changed hands, or it may represent an estimate of the values of assets, or it may be a combination of these.

The determination of the values to be used for accounting for assets is one of the key issues of accountancy.

Accounts of money are financial account s, see also chart of accounts . These include:

Any activity that changes the value of a financial account is a financial transaction.

The accuracy of financial accounts often depends on the custody and accounting of assets other than money, so both auditors and more general accountants are sometimes concerned with quantities of other things, especially stocks of merchandise and other supplies.

The term account is also used more generally by analogy and association with accountancy concepts. For instance, a network account or e-mail account.

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See the Wiktionary definition for a more complete definition.

Accounting

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Topics: Accountancy, Accounting Scandals Of 2002, Accountability...

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Account of Alexander given in the Koran

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