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 ?
With the pounds 30,000 having to settle accounts for the Crown and other creditors ahead of punters, the chink of light once handed to punters by netbet chairman Paul Moorhouse, just as the firm went under, is now exposed for what it was worth.
There are many initiatives under way in MTMC and industry to push processes onto the Web like that, whether they are to book or trace cargo, determine rates, settle accounts, etc.
The service will enable mobile phone users to settle accounts for commercial transactions via the Internet as well as make payments at retail stores, in taxis and other outlets.
South Korean chief delegate Lee just said the currency will be used to clear debts and settle accounts in inter-Korean transactions without giving specifics about the currency.
In October, the Hart district placed money in reserve to settle accounts, reimburse developers for excess payments and pay off outstanding loans.
Users and trucking companies will be able to conclude contracts and settle accounts through the site.
The firm has 25 employees, 70% of whom are traditional collectors (they settle accounts 90-plus days past due) and 30% of whom are customer service representatives (they place courtesy calls to remind debtors their payments are overdue).
Russia, South Africa, Cambodia, Chile and Northern Ireland--these are examples of nations or provinces currently trying to settle accounts with the past.
Harry Zike, controller of Siemens and chairman of FEI's Committee on Corporate Controllership, reports that Siemens will offer its European customers the option to settle accounts either in euros or the national currency, starting January 1, 1999.
provides point-of-service solutions for managing accounts receivable that enable healthcare providers to settle accounts on the front end of the revenue cycle via real-time, customized scripts.
The contractor has approximately 4,300 orders per annum execute and settle accounts with the respective purchaser.
We will settle accounts with 'parallellists,' we will destroy their buildings," the police said, according to witnesses and the guard.