Combined Statement

DEFINITION of 'Combined Statement'

Also known as a descriptive or consolidated statement, combined statements aggregate all information about all of a customer's accounts onto a single periodic statement. For example, if a bank customer has a mortgage, line of credit, retail account, IRA and trust account, then the bank will mail one statement that gives a complete breakdown of all three accounts. This includes all deposits, withdrawals and other transactions, as well as beginning and ending balances.

BREAKING DOWN 'Combined Statement'

Combined statements are offered for both the bank's and the customer's convenience. Instead of having to print and mail out separate statements for each account, the customer can receive one statement that contains all pertinent information. This makes for easier recordkeeping by the customer and lower printing and mailing statements for the bank.

RELATED TERMS
  1. Account Statement

    A periodic summary of account activity with a beginning date ...
  2. Itemized Statement

    A periodic statement issued by a financial institution, such ...
  3. Bank Statement

    A record, usually sent to the account holder once per month, ...
  4. Common Size Income Statement

    An income statement in which each account is expressed as a percentage ...
  5. Comparative Statement

    A statement which compares financial data from different periods ...
  6. Statement Of Retained Earnings

    A financial statement outlining the changes in retained earnings ...
Related Articles
  1. Professionals

    Financial Statements

    Financial Statements
  2. Professionals

    Financial Statements

    Financial Statements
  3. Investing Basics

    What are Financial Statements?

    Financial statements are a picture of a company’s financial health for a given period of time at a given point in time. The statements provide a collection of data about a company’s financial ...
  4. Investing Basics

    12 Things You Need To Know About Financial Statements

    Discover how to keep score of companies to increase your chances of choosing a winner.
  5. Professionals

    The Cash Flow Statement

    CFA Level 1 - The Cash Flow Statement. A brief introduction to the relationship between cash flow and financial statements. Provides a flow chart highlighting the relationship.
  6. Professionals

    Introduction

    We look at different types of financial statements.
  7. Retirement

    Navigating Government And Nonprofit Financial Statements

    Learn how to trace where your tax dollars and charitable donations are going.
  8. Investing Basics

    Explaining Financial Statement Analysis

    Financial statement analysis is the process of reviewing a company’s statements to gain an understanding of its financial health.
  9. Professionals

    Mailing Instructions

    All confirmations and statements will be sent to the customer’s address of record. Statements and confirmations may be sent to an individual with power of attorney if the duplicates are ...
  10. Professionals

    Financial Statements

    CFA Level 1: Section 6 - Financial Statements
RELATED FAQS
  1. Which financial accounting statement contains information on a company's net sales?

    Find out which accounting statement contains information on a company's net sales as well as other key statements analysts ... Read Answer >>
  2. What is the difference between a compiled and a certified financial statement?

    All publicly-traded companies are required to provide financial statements, including a balance sheet, cash flow statement ... Read Answer >>
  3. How are the three major financial statements related to each other?

    Learn why investors analyze a company's financial statements, and how the income statement, balance sheet and cash flow statement ... Read Answer >>
  4. What is the difference between a cash flow statement and an income statement?

    Learn how a cash flow statement measures the sources and uses of a company's cash, while an income statement measures a company's ... Read Answer >>
  5. What's the difference between an income statement and a balance sheet approach?

    Understand more about the principle purposes and primary differences between a company's income statement and its balance ... Read Answer >>
  6. How do marketable securities impact a company's financial statements?

    Understand how the various components of the financial statements are impacted by investments in marketable securities owned ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center