Chart of Accounts
Accounting glossary · Understand, connect, apply
A chart of accounts is the organized list of account names and codes an entity uses in its ledger.
Example
A small business might use code 100 for Cash, 200 for Accounts Payable and 400 for Sales Revenue.
Remember the difference
Account codes are an organizational choice. They are not amounts or universal numbers required for every business.
Examples are simplified for learning. Where a term depends on US law, IFRS, US GAAP or a historical rule, check the context explained above and the requirements relevant to your course.
Study references: OpenStax financial accounting and managerial accounting. For reporting requirements, consult the applicable IFRS Standards or FASB guidance. US tax terms should be checked against the relevant tax-year IRS instructions.
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