account etymology

Etymology

The word "account" comes from the Old French word "acount," which in turn derives from the Latin word "computare," meaning "to calculate" or "to reckon."

Meaning

An account is a record or statement of financial transactions, typically kept by a business or individual to track income, expenses, assets, and liabilities. It can also refer to a narrative or explanation of a set of events or actions.

Origin

The concept of accounting dates back to ancient civilizations, where merchants kept records of their transactions on clay tablets or papyrus. In the Middle Ages, Italian merchants developed double-entry bookkeeping, which revolutionized accounting practices. The use of the term "account" in its modern sense became widespread in the 17th century.

Examples

• A bank account is a record of deposits, withdrawals, and other financial transactions.
• A financial accounting report provides information about a company's financial performance.
• A witness account is a description of events from someone who observed them.

Related Words

• Accountancy
• Accountant
• Accounting principles
• Balance sheet
• Income statement

account relate terms

• accounting

  Etymology Accounting derives from the Old French verb accompter meaning to reckon to

• account

  Etymology The word account comes from the Old French word acount which in turn deriv

• count

  Etymology The word count originates from the Old French word conte which itself deri

• accountant

  Etymology The word accountant is derived from the Old French word acconteur which me

• raconteur

  Etymology The word raconteur is derived from the French word raconter which means

• report

  Etymology Report derives from the Anglo Norman French verb reporter meaning to brin

• reckoning

  Etymology Middle English reknyng from Old English recnung Proto Germanic rakunōn

• discount

  Etymology The word discount originates from Old French desconter meaning to deduct

• narration

  Etymology The word narration originates from the Latin word narratio which means a

• debit

  Etymology The word debit derives from the Latin verb debere which means to owe M

• compound

  Etymology Compound a word formed from two or more root words or morphemes Meaning

• exposition

  Etymology The word exposition comes from the Latin word expositio which means setti

• charge

  Etymology The word charge comes from the Old French word carge which in turn derives