account

(redirected from settle accounts)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia.

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 ?
Morgan currently provides collateral, such as Japanese government bonds, to the Bank of Japan to settle accounts in yen.
The situation is delicate, as people are ready to go to the south of the country to settle accounts with Bakiev themselves in case the law enforcement agencies do not take some actions in the nearest time,\" she said.
The number of killings suggests that the military is seeking to silence any enthusiasm for the Taliban and to settle accounts for heavy army casualties, said a senior provincial official who spoke on the condition of anonymity for fear of reprimand by the army.
Overall, the average time UK firms take to settle accounts is 57.
kicked off the general assembly season for firms closing their books in March, although the bulk of meetings come next Thursday, when more than 75% of companies that are listed on the First Section of the Tokyo Stock Exchange and settle accounts on March 31 will convene gatherings.
The killings of businessmen, most of them contract slayings that remain unsolved, occur frequently in the shady world of Russian business as rivals settle accounts or criminals attempt to expand their sphere of control.
The contractor has approximately 4,300 orders per annum execute and settle accounts with the respective purchaser.
SEOUL -- North Korea's leader responded Friday to America's use of nuclear-capable B-2 bombers in joint South Korean military drills with more angry rhetoric, saying his rocket forces are ready "to settle accounts with the U.
Due to the Iranian Revolution in 1978, the equipment was never provided, and the parties agreed to discontinue the contract and settle accounts later.
Struggling Ashikaga Bank said Wednesday it will cancel in late April a contract allowing it to remit money and settle accounts for North Korean financial institutions as part of the bank's restructuring plan.
Persolvo Data Systems, a leading provider of web-based settlement software and analytics tools designed to locate, identify and settle accounts enrolled in debt settlement programs, will deploy its next generation settlement technology to its current client list of creditors, collection agencies and debt buyers next month.
The local media had reported that the Shoura member wanted to settle accounts with the minister for the denial of a promotion to his brother, Dr.