Marcus Accounting & Finance Hubs.

08/07/2025

Chat of Accounts in Accounting

08/07/2025

Management Accounting vs Financial Accounting

Study Point

06/07/2025

A chart of accounts is a systematic list of all the accounts used in a company's general ledger. It provides a structured framework for organizing and categorizing financial transactions and helps in the preparation of financial statements.

Here's a simplified example of a chart of accounts:

1. Assets
1.1 Current Assets
1.1.1 Cash and Cash Equivalents
1.1.2 Accounts Receivable
1.1.3 Inventory
1.2 Non-current Assets
1.2.1 Property, Plant, and Equipment
1.2.2 Intangible Assets
2. Liabilities
2.1 Current Liabilities
2.1.1 Accounts Payable
2.1.2 Short-term Loans
2.2 Non-current Liabilities
2.2.1 Long-term Loans
2.2.2 Bonds Payable
3. Equity
3.1 Share Capital
3.2 Retained Earnings
4. Revenue
4.1 Sales Revenue
4.2 Interest Income
5. Expenses
5.1 Cost of Goods Sold
5.2 Salaries and Wages
5.3 Rent Expense
5.4 Utilities Expense

This is a basic example, and the specific accounts included in a chart of accounts can vary depending on the industry, company size, and specific reporting requirements. Each account is assigned a unique account code or number for easy identification and reference. The chart of accounts provides a standardized structure for recording financial transactions and allows for accurate and consistent financial reporting.

Follow Accounting Knowledge Concepts

06/07/2025

How Financial Statements Works

Study Point

04/07/2025

Finance vs Accounting 🧐

Study Point

28/06/2025

10 Accounting Concepts 📢
You Should Know

Study Point

16/06/2025

🚨🏴󠁧󠁢󠁷󠁬󠁳󠁿 𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆: Gareth Bale is partnering with a US based private equity firm to try and purchase Plymouth Argyle, reports .

27/02/2025

21/12/2024

A Solved Example of
"Current Ratio,Accounts Receivable Turnover Ratio and Average Collection Period
Study Point