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Account Balance: Your account balance is the amount of money you have in one of your financial accounts. For example, your bank account balance refers to the amount of money in your bank accounts. Your accou . . . View Full Definition

Previous Balance Method: Method of calculating finance charges based on the account balance at the end of the previous month.

Postal Account: A personal account is a building society account in which all transactions are conducted via post. In some cases a pass book is used to record deposits and withdrawals although societies are . . . View Full Definition

Impound Account: A trust account established to set aside funds for future needs relating to a parcel of real property. Many mortgage lenders require an impound account to cover future payments for taxes, as . . . View Full Definition

Adjusted Balance Method: Method of calculating finance charges that uses the account balance remaining after adjusting for all transactions posted during the given billing period as its basis. Related: Average daily . . . View Full Definition

Adjusted Debit Balance (ADB): The account balance for a margin account that is calculated by combining the balance owed to a broker with any outstanding balance in the special miscellaneous account, and any paper profits . . . View Full Definition

Post-Closing Trial Balance: A listing of all real account balances after the closing process has been completed: provides a means of testing whether total debits equal total credits for all real accounts prior to begin . . . View Full Definition

Trial Balance: A listing of all account balances: provides a means of testing whether total debits equal total credits for all accounts.

Management Accounting: The area of accounting concerned with providing internal financial reports to assist management in making decisions.

Managed Account: A managed account is a portfolio of stocks or bonds chosen and managed by a professional investment manager who makes the buy and sell decisions. Each managed account has an investment objec . . . View Full Definition