final account
"Final account" is used in various professional fields to denote a conclusive financial statement summarizing transactions, balances, or project costs.
Definition
C1Accounting
(technical)A year-end statement summarizing an entity's financial performance and position.
Example
- The final account revealed a significant increase in the company's annual profits.
C1Law
(formal)A conclusive statement of financial transactions submitted at the end of a legal matter.
Example
- The attorney prepared the final account for the estate settlement.
C1Construction
(technical)A detailed statement of total project costs, including all expenses and adjustments.
Example
- The contractor submitted the final account to the client upon project completion.
B2Banking
(technical)A statement provided to a customer showing the final balance when closing an account.
Example
- The bank issued a final account statement after the account was closed.
Similar
Terms that have similar or relatively close meanings to "final account":
on accountcast up one's accountstime accountcurrent accountdebit accountcast accountsbalance the booksfinal actfinal reckoningcapital accounttrue upaccountant generalcredit balanceexpense accountfinancial statementclose out