by 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
- Current 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
