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 classic literature ?
The first three or four days passed most quietly, with no circumstance to mark them excepting the receipt of a note or two from Lyme, which found their way to Anne, she could not tell how, and brought a rather improving account of Louisa.
No, no; that would be too trifling a matter for you to take in hand, and it was not on that account you asked Percerin for those patterns of the king's costumes.
The Emperor said that the fiscal system must be reorganized and the accounts published," recounted Bitski, emphasizing certain words and opening his eyes significantly.
We know he didn't pay the bank-note in to his account," Sharon remarked.
And with a proud consciousness of serving his country wisely and well he charged that sum to the account.
Well, as figures are rather important things to most of us, and you may have a good many accounts to keep some day, wouldn't it be wise to begin at once and learn to manage your pennies before the pounds come to perplex you?
Susan departed, and soon returned with an account that the two gentlemen were got both into the same bed.
Thou lonesome one, thou goest the way of the loving one: thou lovest thyself, and on that account despisest thou thyself, as only the loving ones despise.
I met with one piece of gratitude indeed, which I did not expect; and this was, that the master of the ship, whom I had so happily delivered, and by the same means saved the ship and cargo, having given a very handsome account to the owners of the manner how I had saved the lives of the men and the ship, they invited me to meet them and some other merchants concerned, and all together made me a very handsome compliment upon the subject, and a present of almost
The author is here supposed to be writing her own history, and in the very beginning of her account she gives the reasons why she thinks fit to conceal her true name, after which there is no occasion to say any more about that.
Mr Dorrit looked as if he must immediately be driven out of his mind by this account.
Having thus given an account of the colony in general, and pretty much of my runagate Englishmen, I must say something of the Spaniards, who were the main body of the family, and in whose story there are some incidents also remarkable enough.