Unit of account

money of accountunits of accountaccounting currencybackedmeasure of valuenominal valuenotional currencyunitunit of valueunits
In economics, unit of account is one of the functions of money.wikipedia
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Money

monetaryspeciecash
In economics, unit of account is one of the functions of money.
The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.

United States dollar

$US$USD
Many international transactions continue to be settled in this way, using a national value (most often expressed in the US dollar or euro) but with the actual settlement in something else.
The sums of money reported in the "Statements" are currently being expressed in U.S. dollars (for example, see the 2009 Financial Report of the United States Government). The U.S. dollar may therefore be described as the unit of account of the United States.

Euro

EUReuros
Many international transactions continue to be settled in this way, using a national value (most often expressed in the US dollar or euro) but with the actual settlement in something else. A modern unit of account is the European Currency Unit, used in the European Union from 1979 to 1998; its replacement in 1999, the Euro, was also just a unit of account until the introduction of notes and coins in 2002.
The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743).

Economics

economiceconomisteconomic theory
In economics, unit of account is one of the functions of money.
Money is a means of final payment for goods in most price system economies, and is the unit of account in which prices are typically stated.

Livre tournois

livreslivres tournoisLt
Historic examples of units of measure include the livre tournois, used in France from 1302 to 1794 whether or not livre coins were minted.
a unit of account (i.e., a monetary unit used in accounting) used in France in the Middle Ages and the early modern period.

European Currency Unit

ECUECUscurrencies that tracked it
A modern unit of account is the European Currency Unit, used in the European Union from 1979 to 1998; its replacement in 1999, the Euro, was also just a unit of account until the introduction of notes and coins in 2002.
The European Currency Unit (₠ or ECU) was a basket of the currencies of the European Community member states, used as the unit of account of the European Community before being replaced by the euro on 1 January 1999, at parity.

Composite good

composite commoditiesother good
In calculating the opportunity cost of a policy, a standard unit of account allows for the creation of a composite good.
A final step can be taken in relating the composite good to a unit of account such as money by setting the price of the composite good to 1.

Medium of exchange

mediums of exchangeexchange mediumfreely exchangeable for goods
Medium of exchange
Although the unit of account must be in some way related to the medium of exchange in use, e.g. coinage should be in denominations of that unit making accounting much easier to perform, it has often been the case that media of exchange have no natural relationship to that unit, and must be 'minted' or in some way marked as having that value.

Store of value

stores of valuea firm foundationput
Store of value
The other functions are the medium of exchange, which is used as an intermediary to avoid the inconveniences of the coincidence of wants, and the unit of account, which allows the value of various goods, services, assets and liabilities to be rendered in multiples of the same unit.

System of measurement

system of unitssystems of measurementmeasurement system
System of measurement
A unit of measurement that applies to money is called a unit of account in economics and unit of measure in accounting.

Unit of measurement

unitunits of measurementunits
The value of something is measured in a specific currency.
Unit of account

Accounting standard

GAAPgenerally accepted accounting principlesaccounting standards
A unit of account in financial accounting refers to the words that are used to describe the specific assets and liabilities that are reported in financial statements rather than the units used to measure them.

Market economy

market economiesfree market economymarket
The use of money, as a relatively stable unit of measure, can tend to drive market economies toward efficiency.

Economic efficiency

efficiencyefficienteconomically efficient
The use of money, as a relatively stable unit of measure, can tend to drive market economies toward efficiency.

Historical cost

historic costcostshistorical cost accounting
In historical cost accounting, currencies are assumed to be perfectly stable in real value during non-hyperinflationary conditions under in terms of which the stable measuring unit assumption is applied.

Hyperinflation

hyper-inflationinflationgalloping inflation
In historical cost accounting, currencies are assumed to be perfectly stable in real value during non-hyperinflationary conditions under in terms of which the stable measuring unit assumption is applied.

Consumer price index

CPIconsumer pricesconsumer price inflation
The Daily Consumer Price Index (Daily CPI) – or a monetized daily indexed unit of account – is generally used to index monetary values on a daily basis when it is required to maintain the purchasing power or real value of monetary values constant during inflation and deflation.

Accounting

accountancyaccountantAccounts
Inflation destroys the assumption that the real value of the unit of account is stable which is the basis of classic accountancy.

£sd

£shillings and pence per poundd
At any one time there might be two or three units of account in one region based on the local base, silver and sometimes gold coins, and each often expressed in L.S.D units in ratio 240:12:1.

Franc

francsBelgian francs
The Florentine gold florin, the French franc and the electoral rheingulden all became pounds (240 denari) of account.

Florin

florinsgold florinsgold florin
The Florentine gold florin, the French franc and the electoral rheingulden all became pounds (240 denari) of account.

Hague–Visby Rules

perils of the seadeviationHague or Hague-Visby Rules
Unit of account is the main way of calculating a carrier or ship owner's liability in relation to carriage of goods contracts in which the Hague-Visby Rules apply.

Opportunity cost

opportunity costshidden costhidden costs
In calculating the opportunity cost of a policy, a standard unit of account allows for the creation of a composite good.

Financial accounting

financial accountsaccountingfinancial accountancy
The use of a unit of account in financial accounting, according to the American business model, allows investors to invest capital into those companies that provide the highest rate of return.

Rate of return

returnreturnsreturn on investment
The use of a unit of account in financial accounting, according to the American business model, allows investors to invest capital into those companies that provide the highest rate of return.