Yearly Account is a term used to describe a financial record that is kept on an annual basis. It is a type of accounting that is used to track the income and expenses of a business or individual over a 12-month period. The term 'ANNAL' is a five-letter word that is used to refer to this type of accounting. ANNAL is derived from the Latin word 'annalis, ' which means 'YEARLY.' This type of accounting is important for businesses and individuals to keep track of their finances and ensure that they are in compliance with any applicable laws or regulations.