An account is the same as a "wallet address" with other coins.  PascalLite uses account numbers which are shorter and easier to remember than those long wallet addresses other coins use.

You need an account to be able to send/receive PASL.  In the beginning, accounts are received for mining blocks of PASL. Now traders want accounts to trade PASL, so in theory, you can make supplemental income selling accounts although it may be better to give accounts away to encourage traders at this point.