Computer Accounting with QuickBooks Online - Chapter 2 - Key Terms – QBO Chart of Accounts

Primary objective of accounting

Chart of Accounts

Accounts

Subaccounts

Account Name

Register

Balance Sheet

Profit and Loss Statement (also referred to as P&L Statement or Income Statement)

Statement of Cash Flows

Assets

Liabilities

External users

Internal users

QuickBooks Balance

Equity accounts (or stockholders’ equity for a corporation)

Income accounts

Expense accounts

Permanent accounts

Temporary accounts