Editing Unit of account (section)

==Accounting==
The unit of [[Account (bookkeeping)|account]] in financial accounting refers to the words used to describe the specific assets and liabilities that are reported in financial statements rather than the units used to measure them. That is, unit of account refers to the object of recognition or display whereas unit of measure refers to the tool for measuring it.<ref name="fasri.net">[http://fasri.net/wp-content/uploads/2009/12/Carrillo-2007-Unit-of-Acct-Paper.pdf Financial Accounting Standards Research Initiative: The Unit of Account Issue]{{Dead link|date=August 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

Unit of measure and unit of account are sometimes treated as synonyms in financial accounting and economics. Unit of measure in financial accounting refers to the monetary unit to be used; that is, whether it should be nominal units of money as opposed to units that are adjusted for changes in purchasing power over time.<ref name="fasri.net"/>