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 between a user and another entity such as a computer, website or financial organization. See user account, guest account and account number.
References in periodicals archive ?
While insurers will have several options as to how to account for insurance contracts under IFRS 4, they will need to meet more stringent disclosure requirements for such accounting, said Peter Clark, project manager with the International Accounting Standards Board.
In general, they provide that, for purposes of revaluing the partners' capital accounts, the FMV of partnership property has to be adjusted to account for the difference between the FMV of any outstanding noncompensatory options and the consideration paid by the option holders to acquire such options.
Under the current rules, a company can account for a business combination using either the pooling-of-interests or the purchase method.
It also is useful for utilities to understand how their peers account for these obligations, because differences in current accounting practices mean the impact of any new standard will vary widely.
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.
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).
Letter-of-credit operations, conducted in all Reserve Banks, are basically manual processes to account for balances, verify requests for payment, and verify the actual payments.