account


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Account

In the context of bookkeeping, refers to the ledger pages upon which various assets, liabilities, income, and expenses are represented.

In the context of investment banking, refers to the status of securities sold and owned or the relationship between parties to an underwriting syndicate. In the context of securities, the relationship between a client and a broker/dealer firm allowing the firm's employee to be the client's buying and selling agent. See: Account executive; account statement.

Account

An agreement between an institution and a person, or another institution, whereby the first institution agrees to hold money and/or other assets on behalf of the second. What the holder may do with those assets depends upon the nature of the account. In a checking account and a savings account, a bank holds money for the client and pays it (them or he/she) a certain percentage in interest. This payment gives the bank the right to lend the money to other clients or invest it within the confines of law and banking regulation. However, the client has the right to withdraw the total amount of money on demand. In a brokerage account, a brokerage holds money and securities for the client and makes transactions with them at the client's request. In exchange, the brokerage charges commissions for the transactions.

account

1. The client of a broker, brokerage firm, or broker-dealer. The client may be a business, an individual investor, or an institutional investor.
2. The record of a client's transactions and investment position. See also account statement.

account

  1. a LEDGER record in which is entered details of all financial transactions relating to an individual supplier (in the creditors' ledger), or customer (in the debtors' ledger), or particular asset or liability (in the assets ledger), or type of expense or receipt (in the nominal ledgers). See DOUBLE ENTRY ACCOUNTS, ACCOUNTING.
  2. a BANK or BUILDING SOCIETY'S record of its dealings with a particular customer which itemizes the customer's business with the bank such as deposits of cash and cheques and withdrawals of funds.
  3. a CUSTOMER. A ‘key account’ is an important customer.
References in periodicals archive ?
taxpayers to provide information about each foreign financial account in which they have signature authority or a "financial interest" In addition, disclosure questions are included in the tax returns of individuals, corporations and partnerships, to alert the government as to whether taxpayers should file this report.
Buffering potential negative reserve account charges -- A company that hires temporary workers forms a new entity and obtains a separate account number.
Of course, the volume, size and complexity of transactions as well as the normal dollar balance of the account are factors that contribute to the risk of financial misstatement.
Sometimes key account programs meet with resistance from traditional salespeople who struggle with the idea of not treating all customers equally.
Retirement Savings Accounts allow contributions up to $7,500 each year with tax-free withdrawals beginning at age 58, or upon death or disability.
A legend on a signature card, periodic statement, or passbook that limits the number of telephone-initiated transfers the consumer can make from a savings account because of reserve requirements under Regulation D (12 C.
Before opening a central assets account, look for the following:
The trends in the monthly fees charged for this account differ considerably between banks and savings associations.
It also includes a form that employees can use to get a copy of their Social Security account, which shows all credits to the account and an estimate of the money they would receive during disability or retirement.
The greatest single influence on the account opening rate is whether employer funding is provided; 91 percent of consumers open the account when their employer makes a contribution.
The second type of noninterest checking account differs from the first in that failure to maintain a minimum balance results in a charge per check as well as a monthly fee.
This question cannot be properly answered without taking into account an inconsistency in Braudel's thesis.