MS-Access design template for the last value for a grouping


It's common to have a table where for example the the fields are account, value, and time. What's the best design pattern for retrieving the last value for each account? Unfortunately the last keyword in a grouping gives you the last physical record in the database, not the last record by any sorting. Which means IMHO it should never be used. The two clumsy approaches I use are either a subquery approach or a secondary query to determine the last record, and then joining to the table to find the value. Isn't there a more elegant approach?

The subquery option sounds best to me, something like the following psuedo-sql. It may be possible/necessary to optimize it via a join, that will depend on the capabilities of the SQL engine.

select *
from table
where account+time in (select account+max(time)
                       from table
                       group by account
                       order by time)