account

1. A narrative or record of events.
2. 1. A reason given for a particular action or event: What is the account for this loss?
   2. A report relating to one's conduct: gave a satisfactory account of herself.
   3. A basis or ground: no reason to worry on that account.
3. (Abbr. a/c or acct.)
   1. A formal banking, brokerage, or business relationship established to provide for regular services, dealings, and other financial transactions.
   2. A precise list or enumeration of financial transactions.
   3. Money deposited for checking, savings, or brokerage use.
   4. A customer having a business or credit relationship with a firm: salespeople visiting their accounts.
4. Worth, standing, or importance: a landowner of some account.
5. Profit or advantage: turned her writing skills to good account.

tr.v., -count·ed, -count·ing, -counts.
To consider as being; deem. See synonyms at consider. See Usage Note at as¹.

phrasal verb:account for

1. To constitute the governing or primary factor in: Bad weather accounted for the long delay.
2. To provide an explanation or justification for: The suspect couldn't account for his time that night.

idioms:call to account

1. To challenge or contest.
2. To hold answerable for.

on account

1. On credit.

on account of

1. Because of; for the sake of: "We got married on account of the baby" (Anne Tyler).

on no account

1. Under no circumstances.

on (one's) own account

1. For oneself.
2. On one's own; by oneself: He wants to work on his own account.
3.  

4. Purchase (Accounting) Method

   Manner of accounting for a business combination. Under the purchase method, the acquiring corporation records the net assets acquired at the fair market value of the consideration given. Any excess of the purchase price over the fair market value of the net identifiable assets is recorded as goodwill. The acquiring corporation then records periodic charges to income for the depreciation of the excess price over book value of net identifiable assets. Goodwill is subject to an annual impairment test. Note that goodwill already on the books of the acquired company is not brought forth. Net income of the acquired company is brought forth from the acquisition date to year-end. Direct costs of the purchase reduce the fair value of securities issued. Indirect costs are expensed.

   Islamic Business and Finance: The Present State and the Way Forward

   With around eleven hundred institutions and assets of US $ one trillion, Islamic finance is now an important part of the global financial system. The scope and range of both Islamic finance and business remains to be further explored and scrutinized. Beyond the recurrent financial instabilities, the Islamic system is promising in tackling various other challenges related to government finances, deepening of financial markets, or narrowing the socio economic disparities. Central however to the sustenance and further success of Islamic finance is the need to gear it with Islamic business practices and to strictly observe its original contours of Equity, Justice, and Transparency. The Conference therefore aims at discussing the present state of Islamic business and finance and how and in what way the same can contribute to the stability of and provide opportunities to the national and global economies. In particular, it addresses the following questions: