T-account
T-account (alternatively known as ledger account or spelled as T account; hereinafter, the Account) is a skeleton version of a financial account that is used in a ledger and/or for demonstration purposes.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- T account. A skeleton version of a standard account used for demonstration purposes.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
