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accounts meaning

  "accounts" in a sentence
  • [Business]
    noun

    ABBREVIATED ACCOUNTS, FINAL ACCOUNTS, FINANCIAL ACCOUNTS, NOTE TO THE ACCOUNTS, STATUTORY ACCOUNTS

    1 (Accounting ) [pl.]

    a set of records for a business over a period, showing all the money received and paid out and how much profit has been made:

    As a self-employed person, I need to keep my own accounts.

    a set of accounts

    This transaction is not shown in the annual accounts.

    a computer program that takes the hard work out of doing the accounts

    The company failed to file its accounts (= send them to the tax authorities) for the 2002 financial year.

    The accounts are all in order.

    SYN BOOKS, BOOKS OF ACCOUNT

    ❖ to audit/do/keep (the) accounts

    annual/monthly/quarterly accounts

    2 [U with sing./pl. verb]

    the department in a company where money spent and owed is recorded:

    the accounts department

    She works in accounts.


  • [Economics]
    1) The profit and loss account, balance sheet, and cash-flow statements of a company.

    See:

    financial statements.

    2)

    See:

    account.


  • [Law]
    pl. n. A statement of a company's financial position. All registered companies must present accounts (in the form prescribed by the Companies Act 1985) annually at a general meeting. These consist of a balance sheet and a profitand-loss account with group accounts (if appropriate) attached. They are accompanied by a directors' report and an auditor's report. All limited companies must deliver copies of their accounts to the Companies Registry (where they are open to public inspection) but companies that are classified (on the basis of turnover, balance sheet total, and number of members) as "small" or "medium-sized" enjoy certain exemptions. Members are entitled to be sent copies of the accounts. See alsoELECTIVE RESOLUTION; SUMMARY FINANCIAL STATEMENT.

Examples

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  1. i will account for this state of affairs.
  2. the firm 's accounts need to be set in order.
  3. i want to open an account with [at] a bank.
  4. please charge the amount to my account.
  5. the following account was written by tom.

Related Words

  1. accounting standard meaning
  2. accounting standards board meaning
  3. accounting system meaning
  4. accounting year meaning
  5. accountings meaning
  6. accounts executive meaning
  7. accounts payable meaning
  8. accounts payable (ap) meaning
  9. accounts payable and receivable meaning
  10. accounts payable turnover ratio meaning
PC Version