Chart of Accounts

A chart of accounts  is a financial organizational tool that provides a complete listing of every account in an accounting system. An account is a unique record for each type of asset, liability, equity, revenue and expense.

A COA, which lists the names of the accounts that a company has identified and made available for recording transactions in its general ledger, establishes the level of detail tracked in a record-keeping system. Typically, a COA contains the accounts’ names, brief descriptions and identification codes.

Sample Chart of Accounts:
A sample Chart of Accounts (COA) is given below:
  • Assets (Dr)
    • Current Assets
    • Non Current Assets
    • Others Assets
  • Liabilities (Cr)
    • Current Liabilities
      • Accounts Payable
      • Income Tax Payable
    • Non Current Liabilities
      • Bank Loans
      • Loan From Shareholders
    • Contingent Liabilities
  • Income (Cr)
    • Sales
    • Service
    • Investment
  • Expense (Dr)
    • Purchase Expense
    • Salaries Expense
    • Wages Expense
    • Rent Expense
    • Utilities Expense
    • Advertising Expense
    • Depreciation Expense
    • Bank Charges
    • Income Tax Expense
    • Insurance Expense
  • Owners Equity (Cr)
    • Devid Smith, Capital
    • Deivid Smith, Drawing

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