UK Accounting Glossary
An account statement is a document that provides information about a specified account for a given period of time. An account statement may be issued by a bank, a mutual fund, a brokerage firm, or any other financial institution. A bank account statement, for instance, reflects a record of transactions, which includes all the debits and credits made during a specified period. In addition, a bank account statement also indicates how those fund transfers affect the account balance. An account statement presented by a brokerage firm, on the other hand, will feature other information. A brokerage account statement tracks purchases and sales of securities, open orders, long and short positions, and other account data. Account statement information is typically provided on a timely basis via conventional and/or electronic mail.
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This glossary post was last updated: 4th February 2020.