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 ?
Because our pricing methodology takes into account the differences in coverage and benefits between each certified pre-owned program, we can provide consumers with the most accurate pricing information available to help them negotiate their CPO purchases.
As a result, in 1997 B takes into account $75 of COD income and S takes into account a $75 ordinary loss.
LCRA's 'A+' rating reflects a number of positive credit factors, and takes into account fundamental credit dynamics such as 25% of power supply bonds that mature beyond the final expiration date (2016) of the members' wholesale power agreements (WPA) and a recent resolution of a suit filed by the two LCRA members that capped their loads.
In year 1, S takes into account $75 of fee income and $75 of expenses.
A particularly appealing feature for clients approaching or in retirement is the delivery of a draw-down strategy that takes into account multiple retirement income sources, including personal savings, pensions and corporate retirement plans, and Social Security benefits.
92-60), a plan (including a governmental plan) is eligible to receive a determination letter that takes into account all the TRA requirements, including those first effective in 1989 or later, if the plan meets a design-based nondiscrimination safe harbor under the final Sec.
This takes into account $1 billion of off-balance sheet debt (8 times 2004 gross rent) and $856 million of asbestos liability (present value of asbestos settlement payments as reported on PPG's balance sheet).
Generally, in an estimated tax annualization calculation, a taxpayer takes into account all partnership and S corporation items of income, deduction, gain and loss for the taxpayer's tax year through the end of the calculation month.