Controlling Account
/kənˈtroʊ.lɪŋ əˈkaʊnt/
Definitions
- (n.) An accounting ledger account that summarizes and controls the totals of subsidiary accounts in legal or business financial records.
The controlling account for accounts receivable showed the total owed by all clients.
Forms
- controlling account
- controlling accounts
Related terms
See also
Commentary
In legal contexts, controlling accounts provide a consolidated view of underlying detailed accounts, critical for auditing and financial compliance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.