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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
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The trust further provided the wife access, in her sole discretion, to principal for maintenance, support, health and related needs, after taking into account all of her other sources of available income and capital, "in consultation with the Trustee." Lastly, net income not distributed at the time of the wife's death was to be added to the trust principal.
In computing Pennsylvania's franchise tax, Unisys calculated its tax base with regard to its own net worth and average income, using a three-factor apportionment formula taking into account its own payroll, tangible property, and sales for those years.
Specifically, the adjustment is computed by taking into account amounts paid or incurred in the period beginning with the first day of the tax year that includes Jan.
Under the general rule, the replacement property's exchanged basis is depreciated over the remaining recovery period (taking into account the applicable convention), using the same depreciation method of the relinquished MACRS property.
Taking into account the increasing use by corporations of partnerships and limited liability companies for joint ventures, it is noteworthy that ISOs cannot be granted to employees of partnerships (or other entities, such as limited liability companies, that are treated as partnerships for tax purposes), even if the partnership is controlled by a corporation that has adopted or could adopt an ISO plan.
Taking into account the excluded debt cancellation and CNOL reduction will cause no net change to P's basis in S's stock.
Similar rules apply for taking into account original issue discount and premiums.(113) These results are similar to the results under current law.(114)
To implement this neutrality policy without adopting new income tax principles requires a reexamination of existing income tax rules, taking into account their adaptability to technological developments in commerce.