Chart Of Accounts Definition
Chart Of Accounts Definition. A listing of the accounts available in the accounting system in which to record entries. The chart of accounts consists of balance sheet accounts (assets, liabilities, stockholders' equity) and income statement accounts (revenues, expenses, gains, losses).
Chart of accounts (definition) A chart of accounts (COA) is a list of all the accounts you must use to record financial transactions in your general ledger.
A listing of the accounts available in the accounting system in which to record entries.
Think of it as the filing cabinet for your small business's accounting system. Here, an account is a unique record for each type of asset, liability, equity, revenue and expense. Sub-Accounts can be used to further segregate expenses within a single Account.
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Olivia Paine
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