As we saw above, account is a type of logical location, which in turn is a type of location.  Some of the basic categories of account are noted (payable, receivable, ledger, personal).

Accounts are often one of the top-level categories in business thinking.  This point of view stems from the preeminence of the accounting discipline in the history of business, and of computing systems.  From the overall perspective of this business ontology, accounts are assigned a lesser position, as logical locations, or buckets, for monetary resources.

Figure 18
An account is updated by transactions, and is generally assigned to a manager role.  Many of the business terms that represent flows have to do with flows that access accounts.  As we’ve noted, accounts only exist so that monetary resources can be assigned to them for tracking purposes.