Word: Account Statement
Definition: An "account statement" is a document that shows the details of your financial account over a specific period. It includes a list of recent transactions (like deposits and withdrawals) and informs you of the current balance in your account. Banks and financial institutions usually send these statements every month.
Usage Instructions: You can use the term "account statement" when talking about your bank accounts, credit accounts, or any financial accounts. It is a noun, so it is used as a subject or object in a sentence.
Example: - "I received my account statement in the mail today, and it showed that I have $500 left in my savings account."
Advanced Usage: In more advanced discussions, an account statement might be analyzed for budgeting, monitoring spending, or even for tax purposes. You might say: - "After reviewing my account statement, I realized I need to cut back on my dining expenses."
Word Variants: - Account (noun): Refers to a record of financial transactions. - Statement (noun): A formal document that provides information. - Bank statement (noun): A specific type of account statement from a bank.
Different Meanings:While "account statement" usually refers to financial documents, the words "account" and "statement" can have other meanings in different contexts: - Account: Can mean a narrative or explanation of an event (e.g., "She gave an account of her travels"). - Statement: Can refer to a declaration or expression of something (e.g., "He made a statement about the company's future").
Synonyms: - Financial statement - Bank statement - Transaction summary
Idioms and Phrasal Verbs:While "account statement" does not have specific idioms or phrasal verbs associated with it, you might encounter phrases related to finances: - "Balance the books": To ensure that financial records are correct and match up. - "Keep track of": To monitor or record information, like your expenses or account activities.