Online Financial Accounting Application Educational application developed specifically to improve understanding computerized accounting functions with ease. System of accounting records developed by every organization to be compatible with its particular financial structure, and in agreement with the amount of detail required in its financial statements. It consists of a list of ledger account names and numbers showing classifications and sub-classifications, and serves as an index to locate a given account within the ledger. See also class of accounts. Accounting requires very specific methods of recording transactions.