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What is an account and how does it help in the recording process (in Accounting)?

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It is a historical record of businesses transactions. It can be anything from recording sales and income to recording how shares have been issued or alloted to shareholders. It helps by creating an audit trail which shows how a business has been run from a financial point of view and it's financial position for analysis purposes and cashflow monitoring.
Bodies outside the business such as HMR&C and Companies House require certain accounts by law but they are also useful to people like banks who may be considering lending you money or investors who may be thinking of investing in or buying a business.

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Other Answers (2)

• An account is a record of all sorts of actions that are taking place. In accounting it refers to receiving and paying out money for services or goods.
• dont understand??