- running account, typically involving related companies, showing the movement of an item (e.g., goods, cash) between them. In most cases, a periodic settlement is not required.
- partner's account showing salary withdrawals and other transactions.
portion of the balance of payments consisting of exports and imports of goods and services, as well as transfer payments such as foreign aid grants. A current account surplus (or deficit) is the amount by which exports of goods and services plus inward transfers exceeds, or falls short of, imports of goods and services. It is the most widely accepted definition of international payment flows between countries. The U.S. accounting practices include income paid or received from foreign investments as part of services.
a national balance of payments account that includes international trade in goods and services along with transfer payments and short-term credit.
(1) an active trade credit account; (2) an account with an extender of credit that is up to date; (3) See also balance of payments.
