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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 MatchesAccrual Accounting ConventionAccrual Accounting ConventionAn accounting system that tries to match the recognition of revenues earned with the expenses incurred in generating those revenues. It ignores the timing of the cash flows associated with revenues and expenses. Account executiveAccount executiveThe brokerage firm employee who handles stock orders for clients. See: Broker. Margin accountMargin accountAn account with a broker where a client is able to purchase securities on credit after margin has been deposited. Tax Exempt Special Savings AccountTax Exempt Special Savings AccountA five year tax free savings scheme for people aged 18 and over, introduced by the government in January 1991 and operated by banks and building societies, but terminated in 1999.The maximum amount which could be paid into such schemes over the five year life of the TESSA was £9,000 according to the following schedule:1st year, £3,0002nd year, £1,8003rd year, £1,8004th year, £1,8005th year £600TESSAs were discontinued on 5th April 1999 although those taken out before then are allowed to run their full five year term. If you own a TESSA, you can do three things with it when it matures:You can withdraw the interest and capital free of tax, and either spend it or invest it elsewhere.You can move the capital into a 'Matured TESSA Account'. The interest earned in the account after the maturity date will be taxable.You can move the capital (but not the income) into an ISA account where it can continue to grow tax free. It can either be paid into a special Tessa-only ISA account (a TOISA) or it can be paid into a cash only mini ISA. The move has to be made within 6 months of the maturity of the TESSA. Statement of accountStatement of accountA document, issued by a supplier to its customer, listing transactions over a given period, normally monthly. It will include details of invoices, payments received and any credits approved with a resultant balance payable by the customer. Further Suggestionspersonal accountsAccounts receivable financing Financial account Concentration account Zero balance account (ZBA) Replacement cost accounting Uncollectible account Balance on capital account account sale Special arbitrage account nominal account budget account Day of deposit to day of withdrawal account current cost accounting Special bond account Joint account Managed account flexible mortgage account Account balance IRA (individual Retirement Account) Automated Customer Account Transfer (ACAT) account payee Purchase accounting Account Party Overdraft checking account |
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