Open accountArrangement whereby sales are made with no formal debt contract. The buyer signs a receipt, and the seller records the sale in the sales ledger.
Omnibus accountOmnibus account
An account carried by one futures commission merchant with another futures commission merchant in which the transactions of two or more persons are combined and carried in the name of the originating broker, rather than designated separately. Related: Commission house.
Uncollectible accountUncollectible account
An account which cannot be collected by a company because the customer is not able to pay or is unwilling to pay.
Capital accountCapital account
1. (Current definition) Since sometime in the 1990s, "capital account" refers to a minor component of international transactions, involving unilateral transfers of ownership of property. The common definition, below, describes what is now called the financial account. 2. (Common definition) A country's international transactions arising from changes in holdings of real and financial capital assets (but not income on them, which is in the current account). Includes FDI, plus changes in private and official holdings of stocks, bonds, loans, bank accounts, and currencies. 3. (Bretton-Woods definition) Same as common definition except excluding official reserve transactions. This definition was used under the Bretton Woods System of pegged exchange rates, but is less meaningful under floating exchange rates.
Accounts receivableAccounts receivable
Money owed by customers.
Accounting earningsAccounting earnings
Earnings of a firm as reported on its income statement.
Further Suggestionsaccount payee
Special bond account
Regulatory accounting procedures (RAP)
Money market demand account (MMDA)
Capital Builder Account (CBA)
Certified Public Accountant (CPA)
Individual Savings Account
Account Ad Valorem Duty
I Impound Account
Current account surplus