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 ?
During this time, monetary activities in EMU nations will be regulated by a "no compulsion/no prohibition" clause, which simply means that businesses, banks, and other economic entities must accommodate both the euro and the national currency (at the choice of the remitter) to settle accounts.
This will allow organizations, in effect, to set up their own in-house, online "banks." Such servers will enable these organizations to pay bills and settle accounts with NetCheques, thus integrating their own internal accounting system with the external financial hierarchy.
However, the CHP leader is getting prepared to settle accounts with the heads of local branches instead of the opposition within the party.
Summary: Israel believes Hizbullah may try a major attack against the Jewish state in order to "settle accounts" over the assassination of top military commander Imad Mughniyeh, Israeli daily Haaretz reported on Thursday.
In today's results, Dixons said margins continued to be lower on a year earlier, mainly because of the willingness of customers to settle accounts at the end of interest-free periods, and a change in the product mix.
The firm, which covers the Tees Valley, has developed a system to allow clients to view the recruitment process from start to finish, and they can book interviews, monitor progress and settle accounts on line.
It blamed the fall on more business-based sales, the willingness of customers to settle accounts at the end of interest-free periods, and a change in the product mix at some of the company's electricals businesses.
It blamed the fall on more business-based sales, the willingness of customers to settle accounts at the end of interest free periods and a change in the product mix at some of the company's electricals businesses.
As Vivendi and GE seek to clinch a deal for VUE, Vivendi is under pressure to settle accounts with Diller before the Universal assets change hands.
bank to settle accounts in yen through the Japanese bank, according to the paper.
We will consider a new, practical way to settle accounts,'' Kono told a press conference.
JTB for its part, will help the venture develop travel packages, introduce hotels and inns on the Web site and settle accounts.