Account
From Open Risk Manual
Definition
Account has several meanings:
- In Accounting context, an explanation or report in financial terms about the transactions of an organization. It is a record of financial transactions for an asset or individual, such as at a financial institution, brokerage, credit card organization, or retail store.
- An account indicates a business relationship between two entities; one entity is the account owner, the other entity is the account servicer.
- An arrangement between a buyer and a vendor in which payments are to be made in the future.
Issues and Challenges
Review session notes: A container that contains assets and/or commitments?
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
Facts about "Account"
| IsDefinedBy URI of an entity that is defined via an imported vocabulary. | https://spec.edmcouncil.org/fibo/ontology/FND/AccountingExt/AccountsMain/index-en.html + |
