Definition

Account

An account is an accounting record of increases and decreases in a specific asset, liability, or owner’s equity item. In its simplest form, an account consists of three parts. (1) A title, (2) a left or debit side, and (3) a right or credit side.


Account means STOCK EXCHANGE the period during which shares are traded for credit, and at the end of which the shares bought must be paid for. On the London Stock Exchange, the account period is three business days from the day of trade. (NOTE: On the London Stock Exchange, there are twenty-four accounts during the year, each running usually for ten working days.)

Account refers the collection of information known about a user, including an account name, an associated password, and a set of access permissions for network resources.


Account refers to 1. A record (usually one of a number of similar records in a book called a “ledger,” or in some comparable system) of transactions relating to a person, an item of property or other asset, a liability, another unpaid obligation, capital, available fund balances, or to elements of revenues, or funds made available, and obligations, cost or expenditures, for a given fiscal period. May also include a summary record of such transactions.

2. A title of such an amount (or a designated group of accounts) for use in budgets and reports.

3. An appropriated fund or other fund, or the title thereof.

4. A summarized presentation of transactions in a financial statement in ledger account form.

5. The rendering of an accounting.

6. A classificationof stock balances according to the purpose for which the stocks are held or according to the ownership of stocks.


Account means record of all transactions affecting a particular financial statement element. Separate accounts are maintained for each asset, liability, equity, revenue, and expense.

Webster Dictionary Meaning

1. Account
- A reckoning; computation; calculation; enumeration; a record of some reckoning; as, the Julian account of time.
- 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; as, to keep one's account at the bank.
- A statement in general of reasons, causes, grounds, etc., explanatory of some event; as, no satisfactory account has been given of these phenomena. Hence, the word is often used simply for reason, ground, consideration, motive, etc.; as, on no account, on every account, on all accounts.
- A statement of facts or occurrences; recital of transactions; a relation or narrative; a report; a description; as, an account of a battle.
- A statement and explanation or vindication of one's conduct with reference to judgment thereon.
- An estimate or estimation; valuation; judgment.
- Importance; worth; value; advantage; profit.
2. Account
- To render or receive an account or relation of particulars; as, an officer must account with or to the treasurer for money received.
- To render an account; to answer in judgment; -- with for; as, we must account for the use of our opportunities.
- To give a satisfactory reason; to tell the cause of; to explain; -- with for; as, idleness accounts for poverty.
3. Account
- To reckon; to compute; to count.
- To place to one's account; to put to the credit of; to assign; -- with to.
- To value, estimate, or hold in opinion; to judge or consider; to deem.
- To recount; to relate.
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