Definition: The word 'acct' is a term used in accounting to denote an account, also known as ledger or record book. It refers to a set of records that are kept by an organization (such as a business or governmental entity) for tracking financial transactions, including income and expenses, assets and liabilities, and other relevant information. The definition of 'acct' can vary depending on the context in which it is used. In general, 'acct' typically refers to a ledger or record book that contains detailed information about the activities and transactions occurring within an organization's accounts. It includes both the financial records and related data needed to make accurate accounting and financial reporting decisions. In accounting terms, 'acct' can be seen as the "bookkeeper" of the organization. The term is used in many contexts where an organization's accounting systems are designed with a goal of tracking and recording financial transactions accurately and efficiently.