What is the Chart of Accounts?

The Chart of Accounts is the complete list and layout of all the ledger accounts used in the business accounting system.

Businesses need a Chart of Accounts tailored to their type of business.

This image comes from the MYOB accounting system for the model business “Clearwater”.

Ledger accounts are numerically coded within each type (assets, liabilities, equity, income or revenue or expenses).

Within each ledger category are the subsections for current and non-current items.

To learn more take this Introductory Accounting Tutorial Course Journals Ledgers and the Trial Balance Tutorial Course

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