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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005

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.
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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.
The example that opens this article lists five different ways a taxpayer might choose to account for a $120 million prepayment.
Further, even if additional credits to a participant's account under an account balance plan are denominated as income and do not exceed the permissible amount, they will not be treated as income exempt from FICA taxation if the amounts with respect to which they purport to be income have not actually been taken into account for FICA tax purposes.
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.
Generally accepted accounting principles may specify how to account for unrealized appreciation and depreciation in the fair value of the entity's derivatives and securities.
America Online (AOL) and Time Warner will account for their recently announced merger as a purchase.
Commercial banks account for a little more than half of household accounts, and savings institutions and credit unions account for another third.
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.
At its next meeting, the FASB will consider the appropriate financial accounting for the tax effect of stock options, how stock-based plans and cash bonus plans integrate, and how to account for the exchange of stock options in merger and acquisition transactions.
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).
Shirley withdraws the $50,000 from his account for herself.
331.(15) The loss taken into account for this purpose is the lower of (1) the net intercompany income or gain with respect to each T share resulting from prior intercompany transactions or (2) the net deduction or loss that would be taken into account from the deemed liquidation if Sec.