Dictionary of Accounting Terms: set of accounts
set of accounts
group of ledger accounts that a particular firm adopts. Ledger accounts are customarily sequenced and numbered in the order in which they will appear in the financial statements. Listed first are the balance sheet accounts-assets, liabilities, and stockholders' equity, in that order. The income statement accounts-revenue and expenses-follow. Of course, the more complex the operation, the greater the number of ledger accounts required. Each specific account has its own number. A listing of account names and numbers is called the chart of accounts.
