A Chart of Accounts (COA) is a financial tool that provides an organized structure to the accounting system of a business. It is a list of all the accounts used by a business during its transactions with customers, vendors, and other organizations or individuals. The COA allows organizations to track their finances and demonstrate accountability for them through documenting transactions. Additionally, it helps organizations create reliable financial statements and performance reports. By using the COA, businesses can save time, improve accuracy in financial reporting, and ensure compliance with internal control policies.