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 ?
Those who have the power to change it, those who have been entrusted with the stewardship of this community, are called to account.
Nuremberg's third incarnation, of course, the one now instantly summoned up by its name alone (which Kiefer has scrawled across the top of the canvas) was as the site of the war tribunal before which Nazism was finally called to account.
Or does it mean the federal agencies responsible for sloppy science will be called to account for their misdeeds?
Rove and others are called to account in a court of law for their attacks on the Wilsons.
It stands to reason then that when someone enters a work place and has a go for no good reason, they should always be called to account.
City officials say Mancini's comments, following the 1-0 defeat at Sunderland on Boxing Day, were made in jest and are shocked he has been called to account.
BRAZIL'S baffling disciplinary procedure was laiS d bare last week when Andres D'Alessandro was called to account for his shameful antics during the Copa Brasil final.
ADEATH driver is unlikely to be called to account for his actions which killed a family man after the grieving family said they did not want him to appear at the inquest.
Almost certainly, they will be called to account this week.