account

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account

1. 
a. a regular client or customer, esp a firm that purchases commodities on credit
b. an area of business assigned to another
2. on account
a. on credit
b. as partial payment
3. settle or square accounts with to pay or receive a balance due

account

An established relationship for some purpose such as identifying a user on a computer or making financial transactions. See user account, guest account and account number.
References in periodicals archive ?
On March 31, 2004, the IASB unveiled "IFRS 4--Insurance Contracts," which splits the insurance industry's entry into IFRS into two phases and gives insurers several options as to how to account for their liabilities.
91-31 or applies for a change in method in the traditional way, the taxpayer may not account for deposits consistent with the Supreme Court's decision.
If the amount of the unrealized gain or loss inherent in the partnership's assets is insufficient to credit the option holder's capital account to reflect his or her share of partnership capital, (a) the partnership reallocates capital already reflected in the existing partners' capital accounts to the option holder's capital account (a capital shift); and (b) the partnership agreement provides for corrective allocations of gross income and gain (or gross loss and deduction) in the year in which the option is exercised (and potentially subsequent years) to account for any capital account reallocations made under these provisions (corrective allocations).
America Online (AOL) and Time Warner will account for their recently announced merger as a purchase.
The final checkable account for which fee information is reported is a NOW account for which the institution charges no fee if a minimum balance is maintained; otherwise, the institution levies one monthly fee with no check charges.
Dividends on unallocated shares are now charged to compensation if you pay them to participants or account for them as debt reduction or accrued interest, if you use them for debt service (effectively charging compensation expense for all dividends on unallocated shares).
This includes the staffing industry and government/insurance providers, who can use the card account for structured settlements and disbursements.
Because FASB is proposing a standard that would change how utilities account for nuclear decommissioning costs, it is imperative that CPAs at utilities with nuclear plants examine the standard's implications for their companies.
Taxpayers that want to change their method of valuing ending inventory to account for estimated inventory shrinkage may do so under the general automatic accounting procedures of Rev.