An account may have names in different languages, but you must write the names just after the appropriate locale string, like in the following example:
en_US: Depreciation of Buildings
it_IT: Ammortamento fabbricati
You shouldn't remove the locale, but, of course, you are not enforced to write the names in all the languages.
What does it happen if the firm's language is set to, say, English, and there's no name in English for an account? Well, another language is chosen, but an asterisk is added.
What if no name is provided? Well, only the asterisk comes up, like here:
The bug has been fixed in version 1.0.5. Now the names are correctly checked on saving.