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 ?
He added that "Iraq is a sovereign country and we do not accept any country to infringe on sovereignty, rejecting, that Iraq be a scene of the Iranian-American conflict and settling accounts.
Jumblatt also held the international community responsible for the current headway of the current situation in Syria because of its inability to unify its vision towards this "bloody conflict", thus settling accounts at the expense of Syrian fallen blood.
This MoU makes CBB responsible for regulation and supervision of banking and other financial institutions taking public deposits, granting loans, arranging for settling accounts and engaging in other business in the Kingdom of Bahrain.
Prime Minister Stanislav Gross, suggesting an underworld vendetta, called the attack "a case of gangs settling accounts".
A public organization settling accounts for the defunct Japanese National Railways was handing over JR East stocks to purchasers through brokerages on Friday.
He stressed the importance that the demonstration be peaceful and organized without any aggression or the burning flags, calling on Turkey not to put itself and make Iraq an arena for settling accounts. Sadr in a televised speech today called the joint forces to preserve the lives and properties of the people of Mosul, saying we do not want the battle to liberate Mosul to be sectarian and also called on the army to preserve the lives of civilians, stressing that "the time of defeats is now forgotten " ./ end
Gegaea added that the Arab peoples are settling accounts with their own despots.
East Japan Railway (JR East) was the most heavily traded issue by value, shedding 31,000 yen to 550,000 yen, as a public organization settling accounts for the defunct Japanese National Railways (JNR) on Friday handed over JR East shares to purchasers through brokerages.
He went on saying that, "Some want to make Anbar province a field for settling accounts, but we would not accept and will deter any side attempts to harm the province." He added, "The Government thought that we will become unable to continue, but it is mistaken; it has to rectify its policy toward the people." For weeks now, Anbar and other provinces are witnessing wave of protests and demonstrations demanding the release of detainees, put an end to the police of exclusion, make corrupt officials accountable, abolish the Terrorism Law and Secret Informer, as well as balancing the jobs in government's departments , security and military forces, in addition to the judicial.
These are blatant attempts to turn the Lebanese against each other or to insinuate the existence of possibility to transform Lebanon into a conflict arena or that of settling accounts once again, the Bloc said.
While the government projects 9,799.0 billion yen in tax revenues from companies settling accounts in March, actual corporate tax revenues are expected to top the projection in view of the recent improvement in corporate earnings.