1. systematic arrangement showing the effect of transactions and other events on a specific balance sheet or income statement item. An account is usually expressed in money. A separate account exists for each asset, liability,stockholders' equity, revenue, and expense. Accounts are the way in which differing effects on the basic business elements are categorized and collected. Accounts are in the ledger (ledger account). Examples are cash, accounts payable, and dividend revenue.
2. relationship between one party and another. Examples are a depositor or borrower with a bank or thrift institution or a credit relationship with a seller of goods or services

1. a record of financial transactions over a period of time,such as money paid, received, borrowed or owed  Please send me your account or a detailed or an itemised account. 2. a structured record of financial transactions that may be maintained as a list or in a more formal structured credit and debit basis 3. (in a shop) an arrangement in which a customer acquires goods and pays for them at a later date, usually the end of the month  to have an account or a credit account with Harrods  Put it on my account or charge it to my account.  They are one of our largest accounts. 4. a period during which shares are traded for credit, and at the end of which the shares bought must be paid for (NOTE:On the London Stock Exchange, there are twenty-four accounts during the year, each running usually for ten working days.) 5. a customer who does a large amount of business with a firm and has an account with it  Smith Brothers is one of our largest accounts.  Our sales people call on their best accounts twice a month.