A listing of account names and numbers used by a specific business for its accounting system. For example, under the Assets section of the chart of accounts you might see #101 Cash, #105 Accounts Receivable, #120 Inventory, #150 Equipment, etc. New accounts can be added as necessary to produce effective management reports. Grouping financial data into these accounts is done to produce reports that are useful to management. See also financial statements.
A structured set of general ledger accounts that fills an organization's requirements in gathering, reporting and analyzing financial entries. Detail G/L accounts are normally rolled-up, or summarized at higher levels for reporting purposes.
is a list of ledger account names and associated numbers arranged in the order in which they normally appear in the financial statements. The Chart of Accounts are customarily arranged in the following order: Assets, Liabilities, Owners' Equity (Stockholders' Equity for a corporation), Revenue, and Expenses.