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 ?
If the political will behind the Ergenekon process had dared to go beyond the River Euphrates, Turkey would today be in a different position, one of settling accounts with the past and making progress on the Kurdish question.
the moment is not that of settling accounts with Hamas Movement or other Palestinian factions.
The new service will allow all users to switch over to settling accounts electronically.
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.
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.