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What is the difference between current account and capital account?

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Question ajoutée par Anil Lalwani , Chief Accountant , Al Ahli Hospital
Date de publication: 2016/11/05
manseer muhammed ali
par manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

The capital account records transactions of purchase and sale of foreign assets and liabilities during a particular year.

Where as the current account records exports and imports of goods and services as well as unilateral transfers.

Majid Wangade
par Majid Wangade , Senior Accountant , KANTOUR LIMITED COMPANY ( Real Estate, Construction and Asset Management )

The current account records exports and imports of goods and services as well as unilateral transfers whereas the capital account records transactions of purchase and sale of foreign assets and liabilities during a particular year.

Wilfredo Quito
par Wilfredo Quito , Accounting Manager , DDC LAND INC.

I agree with the expert answers; in addition the current account reflects a nation's net income, the capital account reflects net change in ownership of national assets.

Nazmul Islam CMA
par Nazmul Islam CMA , Manager , Robi Axiatal Ltd.

Agree with the answer added Manseer Muhammed.

Abdullatif Mohamed
par Abdullatif Mohamed , Senior Accountant , Olaat Development

The current account records exports and imports of goods and services as well as unilateral transfers whereas the capital account records transactions of purchase and sale of foreign assets and liabilities during a particular year. The current account considers goods and services currently being produced. The credit and debit of foreign exchange due to these transactions are also recorded in the balance of current account. The capital account is concerned with payments of debts and claims, regardless of the time period.