Account Statement
Barron's Banking Dictionary:
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Account Statement
Any summary of transaction activity occurring during an accounting period, usually monthly, but sometimes quarterly, or annually.
1. Banking. A listing of deposits, withdrawals, checks paid, interest earned, and service charges against an account-called a bank statement. It is issued monthly, as required by Federal Reserve regulations, to give customers an opportunity to review their financial records and correct any error. Customer account statements may be delivered by mail, or if the customer chooses, by electronic mail (e-mail) message. See also Account Analysis; Combined Statement; Consolidated Financial Statement; Periodic Statement.
2. Securities. A record of transactions showing status of an account maintained at a broker-dealer firm, net market value of securities owned, cash and securities positions, and so on. Brokerage statements are issued monthly or quarterly, depending on the level of activity in the account.
Investopedia Financial Dictionary:
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Account Statement
A periodic summary of account activity with a beginning date and an ending date. The most commonly known are checking account statements, usually provided monthly, and brokerage account statements, which are provided monthly or quarterly. Monthly credit card bills are also considered account statements.
Investopedia Says:
Account statements refer to almost any official summary of an account, wherever the account is held. Insurance companies may provide account statements summarizing paid-in cash values, for example. Account statements should be scrutinized for accuracy, and historical statements are critical for budgeting.
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Barron's Banking Dictionary
Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.
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Mentioned in
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(business term)
Account Activity
(in banking)
bulletin
(in marketing)
Nominal Account
(in accounting)
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