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House account |
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House accountA type of account at a brokerage firm that is given a high level of priority and is handled by the main office or an executive, rather than a traditional salesperson.House account Similar MatchesNominee accountNominee accountAn account in which the named holder holds the assets in it on behalf of another (the beneficiary). In the stock market, the most common use of nominee accounts is where execution-only brokers act as nominees for their clients. The shares are registered in the name of the broker, but the client has beneficial ownership of them. The advantage of nominee accounts is that they make settlement quicker and more streamlined. In theory, dealing costs should be lower. There are some disadvantages: because the individual isn't the registered owner of the shares, he doesn't get sent company reports and accounts, and can't take advantage of shareholder perks, unless his brokers provides a special forwarding service. Insured accountInsured accountA bank or financial account that is insured for the benefit of the depositor, protecting against loss in the event that the savings institution becomes insolvent. See: FDIC. Financial Accounting Standards Board (FASB)Financial Accounting Standards Board (FASB)Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). Certified Public Accountant (CPA)Certified Public Accountant (CPA)An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. Mixed accountMixed accountA brokerage account holding both long and short positioned securities. Further Suggestionssavings accountCapital account surplus Day of deposit to day of withdrawal account Account balance Regulatory accounting procedures (RAP) Current account balance Purchase accounting Account Party Average accounting return share account I Impound Account Capital Builder Account (CBA) Accounting liquidity managed account omnibus account Generally Accepted Accounting Principles (GAAP) Replacement cost accounting account payee Statement of Financial Accounting Standards No 8 Accounting earnings books of account Unit of account Accounting Standards Board Tax Exempt Special Savings Account account sale |
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