account

(redirected from accounted for)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.
Related to accounted for: indicated, errand, seek out, passed on

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 ?
As we gained a more extensive understanding of how these instruments could be accounted for under Statement no.
How will hedges be accounted for in the MD&A section of the annual report?
1976), the taxpayer accounted for most of its charge accounts on the installment method, but used the less favorable accrual method for one type of charge account that the IRS did not think properly fit the definition of "installment sale." The IRS later changed its mind, and the taxpayer applied the installment method to the last type of charge account.
The taxpayer won the case by convincing the court that the installment sale rules required all charge sales that met the definition of "installment sale" to be accounted for under the installment method.
* ACQUIRING COMPANIES PAY A HIGHER PREMIUM to pool, on average, than to complete a deal that is accounted for as a purchase.
NPOs also must disclose gains and losses realized for investments not accounted for using fair value (unmarketable equity securities).
He noted the ED covered a wide range of transactions that currently are treated separately in the accounting literature and in some cases accounted for differently, even though they may have been similar in substance.
The following consensus was reached regarding investments accounted for under the cost method:
For both consensuses, subsequent to the restructuring, the security should be accounted for according to the provisions of Statement no.
For example, some employers consider permanently disabled employees to be retired at the date of disability and therefore include certain benefits in their pension plans (which are accounted for under Statement no.
Financial statement users could draw company-to-company and country-to-country comparisons because like transactions would be accounted for and reported in a similar manner no matter where in the world they occur or are reported.
Accounting problem: (1) Should changes in estimates Of future gross products that are the basis of amortizing the present value of future profits (PVP) of acquired long-duration insurance contracts be accounted for as a catch-up adjustment?

Full browser ?