Dictionary of all accounting terms
A chart of accounts is a list of accounts that a company owns, with its corresponding type as well as the account balance.
Each account is a unique record for a type of asset, liability, equity, revenue, or an expense. Chart of accounts is a tool to help a business organize their financial information within their general ledger under a variety of subcategories.
A medium sized enterprise may have include these subcategories under their asset account -
Company liabilities may consist of these categories -
Keep in mind these chart of accounts are only examples, you may use more or less subcategories. This will all depend on the size and complexity of your business.