An account is a basic entity in monetary management and it can be defined as an organization or an arrangement by a financial institution such as bank in which it accepts the monetary and other financial assets from the customer and holds them and manage them according to the discretion of the customer. The above mentioned defines the account in term of personal perspective however in terms of a company or a business an account can be defined as a statement that manages and summarizes the record of transactions within a business in the form of credit, debit, accruals and adjustments of the funds and other transactions. The account has an ultimate effect on the assets, expense, liability, equity and the present and future value of the finances and the revenues of the business.
The Knight Templar was the first financial entity that holds the financial assets from the other and issued loans on that financial asset. This can be rightly said that Knight Templar placed the basis of the present day banking and accounts system. Those accounts at that time managed in order to issue loans to the people so that they can travel to their holy land. This was also used to hold the wealth and financial assets that were tend to lost during the time of Crusades.
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