account

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account,

n a basic storage unit in an accounting system. Individual accounts accept debit and credit entries that reflect the different types of transactions made by the practice.
account book,
n a book in which the financial transactions of a business or profession are entered. Such books may be admitted as evidence.
account, open,
n a straightforward arrangement between the dental provider and the patient for the handling of financial payments due the dental provider and owed by the patient.
account, payable,
n a dollar amount owed to creditors for items or services purchased from them.
References in periodicals archive ?
Concerning Target's separate financial statements, the EITF concluded the transaction should be accounted for as a reverse acquisition of Target by Subsidiary in accordance with paragraph 70 of Opinion no.
In this mixed-attribute model, IAS 39 allows similar financial instruments to be accounted for differently, depending on management's designation or its stated or intended use of the instruments," said Tweedie in his speech.
TEI believes that as long as amounts or items that would otherwise be duplicated or omitted are accounted for through a section 481(a) adjustment period, taxpayers should be permitted to make favorable adjustments in open tax years.
If SFAS 52 applies, a company must demonstrate only that a contemplated transaction creates risk, while hedging transactions accounted for under SFAS 80 must meet a much more restrictive "enterprise" risk test.
Statement 154 requires that a change in method of depreciation, amortization, or depletion for long-lived, nonfinancial assets be accounted for as a change in accounting estimate that is effected by a change in accounting principle.
Larceny is therefore not one of employees' favorite illicit methods; it accounted for only 3% of the cases in the study and 1% of the losses.
97-50, costs paid or incurred to convert or replace computer software to recognize dates beginning in the year 2000 should be accounted for as software development or software acquisition costs under the guidance provided in Rev.
399 (1980), the Court of Claims held, per curiam, that "line pack" gas that was needed to pressurize the taxpayer's pipeline, but 80 to 97 percent of which would be lost permanently whenever the pipeline was abandoned, was properly accounted for as a depreciable capital asset, instead of as inventory.

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