A chart of accounts may include listings such as cash, inventory, accounts payable and interest income. A chart of accounts may also identify account numbers based on the account type, such as current assets, liabilities, stockholder equity, revenue and other costs.
A chart of accounts is an explanation of the numerical codes identifying the various general ledger accounts in an accounting system. A chart of accounts typically contains account names, descriptions and unique identification codes. Individual items within a chart of accounts should have a unique account number and description combination. Balance sheet ledger accounts are typically listed before income statement ledger accounts.