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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 ?
Accordingly, the regulations do not require that any amount under a nonaccount balance plan be taken into account for FICA tax purposes until the date on which it becomes "reasonably ascertainable." (This date is referred to in the regulations as the "resolution date.") An amount is considered "reasonably ascertainable" only if the sole actuarial or other assumptions needed to determine the amount deferred are interest, mortality and cost-of-living assumptions.
To account for a derivative as a hedge, generally accepted accounting principles require management at the inception of the hedge to designate the derivative as a hedge and contemporaneously formally document(17) the hedging relationship, the entity's risk management objective and strategy for undertaking the hedge, and the method of assessing the effectiveness of the hedge.
Under the current rules, a company can account for a business combination using either the pooling-of-interests or the purchase method.
The only liquid asset account for which nondepositor institutions are important is money market accounts; nearly one-fourth (0.07 of 0.31) of the accounts are obtained from nondepository sources, which are almost always brokerage companies (table 11).
To understand how utilities account for nuclear decommissioning costs, we examined the annual reports and form 10-Ks of the 53 investor-owned utilities with nuclear facilities.
A mutual fund investor will need to decide whether to retain ownership in his or her own name or place the funds (subject to gift tax considerations) in an account for the child under the Uniform Transfers to Minors Act.
1.1502-13(c) to reflect the difference for the year between B's corresponding items taken into account and B's recomputed corresponding items (the corresponding items that B would take into account for the year if S and B were divisions of a single corporation).
Notwithstanding the lack of formal guidance, accounting practices have evolved allowing companies to account for the cash flows on the swap as if they were interest payments on debt.
The new age for not-for-profit organizations requires those entities to find different ways to capture and account for transactions and to make new financial statement displays and disclosures.
The difference of $20 ($10 loss -- $10 gain) is the amount of S's intercompany gain that would be taken into account for the year of the resale.
The exposure draft further proposed that companies use the retrospective method to account for the effects of changes in prepayment estimates or actual prepayment experience.
For example, MRO invoices at an ITT division account for 59% of its manufacturing units' invoice volume but less than 5% of the total dollars spent on purchased goods; and 81% of its MRO invoices are less than $1,000, accounting for only 3.2% of total spending.