Definition: A registry of pecuniary transactions; a written or printed statement of business dealings or debts and credits, and also of other things subjected to a reckoning or review.
Alright class, settle down, let’s take a look! Today we’re tackling the word “accounts,” and it's a bit of a mouthful, isn’t it? The dictionary gives us quite a detailed description – let’s break it down piece by piece. Think of "accounts" as like a very important ledger, you see? It’s more than just scribbling numbers on a page! Let's unpack that definition: “Pecuniary transactions” - That means money moving around! Like when someone buys something with cash, or pays for a service. Think of it as where your dollars go and come from. "Written or printed statement..." – This is a record, just like a diary but for money. It shows everything that happened financially. "...of business dealings or debts and credits” - This part talks about who owes what! "Debts" are things you need to pay back, and “credits” are when someone pays you . Like if you lend a friend $5, it’s a credit for you. "...and also of other things subjected to a reckoning or review." – This is a little broader! It means accounts aren't just about money - they can track anything that needs to be measured and checked over. Maybe tracking how many books were borrowed from the library, or even how much time was spent on a project. Essentially, an “account” is simply a way of keeping track – a record – of everything that’s been tallied or counted. It helps us know where we stand financially and understand our dealings. Does anyone have any questions about this? Don't be shy! (Pause for student questions) --- Do you want me to: Give a simple example of an account (like a bank account)? Explain different types of accounts (assets, liabilities, etc.) – that’s for a bit further down the line.