In accounting and investment, what are the difference and relation between balance and position, when talking about a checking/saving/investment account? Or are they the same concept?
Thanks and regards!
an account balance is your total in the account.
The word balance means "to be equal". The use in finance stem from accounting. However you do not need to know why its called a balance to understand that a balance is equal to something.
IE: your "account balance" is your total account weather its savings, electric bill, or investment portfolio.
A position in your investment portfolio is what you are invested in.
IE: If I went 100 shares long(I bought) Apple then I have a 100 share position in Apple.
Your position is added to your account balance within your investment portfolio.