What is an account in accounting?

What is an Account? Home › Accounting › Accounting Basics › What is an Account? Definition: An account is a record in an accounting system that tracks the financial activities of a specific asset, liability, equity, revenue, or expense. These records increase and decrease as the business events occur throughout the accounting period.

What is a savings account?

A savings account is an interest-bearing deposit account held at a bank or other financial institution. Though these accounts typically pay only a modest interest rate, their safety and reliability make them a good option for parking cash that you want available for short-term needs.

What does accounted mean in a sentence?

to give an explanation (usually followed by for): to account for the accident. to answer concerning one's conduct, duties, etc. (usually followed by for): to account for the missing documents. to regard; consider as: I account myself well paid. to assign or impute (usually followed by to): the many virtues accounted to him. 1 report, chronicle.

What does accounte stand for?

Middle English acounte, accompt, borrowed from Anglo-French acunte, acounte, noun derivative of acunter "to account entry 2 "