Define: Unit Of Account

UK Accounting Glossary

Definition: Unit Of Account


Quick Summary of Unit Of Account




What is the dictionary definition of Unit Of Account?

Dictionary Definition


  1. A function of money enabling it’s users to calculate the value of their transactions and to keep accounts.
  2. The standard unit of currency of a country.
  3. An artificial currency which is used only for accounting purposes.

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Full Definition of Unit Of Account



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Unit Of Account FAQ's



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To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/unit-of-account/
Modern Language Association (MLA):
Unit Of Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 20, 2019 https://payrollheaven.com/define/unit-of-account/.
Chicago Manual of Style (CMS):
Unit Of Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/unit-of-account/ (accessed: September 20, 2019).
American Psychological Association (APA):
Unit Of Account. PayrollHeaven.com. Retrieved September 20, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/unit-of-account/

Definition Sources


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This glossary post was last updated: 5th May 2019.