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 ?
And yet, they simply can not just place the responsibility on past rulers, as rulers of today must be brought to account for their own deeds.
Asked whether ruler Bashar al-Assad should be brought to account, he answered indirectly: "Assad is the chief in the state.
IT is hard to believe that 11 years have passed since Kirsty Jones' murder, and yet still no-one has been brought to account for her death.
All I would say is the police appear to be in enough trouble with the general public regarding the demeanours of telephone tapping and I would expect that whoever is in charge of security at the House of Commons is brought to account.
The only time that lessons will be learned is when people in public office who are responsible are brought to account.
The Republic's Finance Minister Michael Noonan said that while it might be taking a while, bankers will be brought to account for any criminality they have been involved in.
He said it was a "clearly marked" UN aircraft and demanded that those responsible be brought to account.
It's about time this government was brought to account, they must not be allowed to waste our money and get away with it.
Palmer accused Murdoch of telling his reporters what to write and said he needed to be brought to account, the report said.
If it's not theft thEn it must be down to poor quality, so who will be brought to account for supplying goods clearly not fit for purpose?
The Taylors' solicitor, Neil O'May, said: "They believe that those responsible for these dreadful errors should be brought to account so that nothing like this could ever happen again.
If they fail to do so they will only be brought to account if they are reported to the Standards board by a member of the public or another council member and this can easily be overlooked.