3.5 Chart of Accounts
A chart of accounts is a listing of the complete ledger account titles and their related numbers, and is maintained in both manual and computerised systems.
It will tell you:
(a) whether the organization is a sole trader business, a partnership, a company, a not- for- profit organization or a government department,
(b) whether the organization is engaged in retailing, manufacturing or services,
(c) the different types of income derived and expensed incurred by the entity.
Intellect Management Services Chart of Accounts | |
Assets (100-199) Cash at Bank Accounts Receivable Prepaid Insurance Office Suppliers Land Building Accumulated Depreciation-Building Office Equipment Accumulated Depreciation-Office Equipment Liabilities (200-299) Accounts Payable Salaries Payable Loan Payable Interest Payable Electricity Account Payable Unearned Appraisal Fees Mortgage Payable Equity (300-399) M. Mooney, Capital M. Mooney, Drawings Income (400-499) Revenues Management Services Revenue Appraisal Fees Revenue Marking Service Revenue Expense (500-599) Salary Expense Telephone Expense Advertising Expense Insurance Expense Office Suppliers Expense Depreciation Expense – Office Equipment Depreciation Expense – Building Interest Expense Electricity Expense
Profit and Loss Summary |
100 104 110 111 150 160 161 170 171
200 210 214 215 216 220 260
300 310
400 401 402
500 510 520 521 530 540 541 560 570
600 |
