What are Accounts - Financial Accounting

The video tutorial provides an introduction to accounting, explaining what an account is and its components, such as assets, liabilities, equities, revenues, and expenses. It also covers the general ledger, which records all company accounts, and the chart of accounts, which lists all ledger accounts with specific names and numbers for consistency and cataloging purposes.

What is the purpose of a chart of accounts?

How might the accounts differ between companies?