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 ?
For example, if the transaction solely involves an extension of credit, and does not include a debit to a checking account (or other consumer asset account), the liability limitations and error resolution requirements of Regulation Z apply.
Health savings plans, which are linked to high-deductible consumer-driven health plan products, are supercharging innovation as both the insurance industry and individuals begin to understand that health savings accounts can transform not just health care, but also the whole spectrum of savings and risk management services.
Those fees usually range from $1.50 to $2 at the competing bank and vary for your personal bank depending upon the type of account you have.
* Adequate segregation of duties to deter and prevent insider misconduct and such things as unauthorized account activity and unapproved waivers of documentation requirements.
"We try to figure out what types of prospects and clients meet our strategic direction and organizational capabilities and try to partner with them for a long-term relationship." He also said it's important to have the right team of account executives who are knowledgeable leaders or good strategic business thinkers as opposed to just product sellers.
This article will help CPAs responsible for completing balance sheet account reconciliations better understand the new importance of this process following the introduction of section 404.
She loves having the power to check her account balance at her fingertips and having the ability to identify and report fraudulent charges to her financial institution before her monthly bank statement arrives in the mail.
Once the full cost is derived for an individual asset, the WIP account will be relieved.
How to create value that a key account is willing to pay for differs from account to account, which is exactly why key accounts require management.
In contrast, to provide the information required by the lines in column (A) in an efficient manner, the book account balances must contain the specific information requested.
The first account of an actual experience of captivity was published by Hakluyt in Navigations (1589): the captivity of John Fox in Alexandria, Egypt, and his escape on 3 January 1577.
Implement charge-back tools and processes, which allow Storage Administrators to generate reports on costs and delivered service metrics associated with QoSS levels for each Storage Account to ensure accountability and accurate billing.