Q: Is there a different name for “Due to Owner”?
A: A number of different terms are used for “Due to Owner”. Due to Owner can also be termed “Loans from Owners” or “Loans from Owners / Stockholders” or “Loans from Related Parties” or even “Subordinated Debt, if a loan from an owner is subordinated, i.e. if that loan can only be paid after the lender is repaid.
The terminology can vary by company and by accountant or accounting firm. Therefore, carefully review the terminology used for each account reported on a set of financial statements. One of the challenges with learning accounting is that the terminology is not consistent. Not everyone uses the same terms to designate the same concept. Unfortunately, there is no standard set of names or terminology for balance sheet and income statement accounts that are used on every set of financial statements.
Course overview: Financial Statement Structure and Composition