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Sahil

What are some examples of chart of accounts?

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1 Answer

  1. This answer was edited.

    Yes. But first, let me familiarize you with the meaning of Chart of Accounts.

    Meaning of Chart of Accounts

    Chart of Accounts is a numbered listing (account codes) of the various accounts that form part of the accounting records of an entity. The codes used help to group similar accounts together. For eg. if you want to see only the operating expenses incurred. In this case, you need to enter only the range code assigned to operating expenses & you will get all the operating expenses transactions together at one place.

    Chart of Accounts varies from one entity to another depending on the size of the entity.

    Example of Chart of Accounts

    In the example given below, 1st digit of the numeric codes signifies different account types. “1” represents assets, “2” represents liabilities, “3” represents equity, “4” represents revenues, & “5” represents expenses.

    Sr No.Numeric rangeAccount typeFinancial Statements
    11000-1999AssetsBalance Sheet
    1000-1499Non-Current Assets
    1500-1899Current Assets
    1900-1999Contra Assets
    22000-2999LiabilitiesBalance Sheet
    2000-2499Non-Current Liabilities
    2500-2999Current Liabilities
    33000-3999EquityBalance Sheet
    44000-4999RevenuesProfit & Loss A/c
    4000-4499Operating Income
    4500-4999Non-Operating Income
    55000-5999ExpensesProfit & Loss A/c
    5000-5499Operating Expenses
    5500-5999Non-Operating Expenses
    1000-1499Non-Current Assets2000-2499Non-Current Liabilities
    1000Property, Plant & Equipment2000Long term debts
    1010Buildings2010Loan from Financial Institutions
    1020Land2020Loan from Others
    1030Plant & Machinery
    1040Furniture & Fixtures2500-2999Current Liabilities
    1050Computer & Peripherals2500Accounts Payables
    1060Leasehold Premises
    1070Vehicles2600Short term debts
    2610Loan from Financial Institutions
    1100Intangible Assets2620Loan from Others
    1110Goodwill
    1120Patent2700Other Current Liabilities
    1130Copyrights2710Pre-received Income
    1140Trademarks2720Outstanding Expenses
    1150Design
    1160Software3000-3999Equity
    3100Capital Contribution
    1200Long term Investments3200Retained Earnings
    1210Investment in shares
    1220Investment in bonds4000-4499Operating Income
    1230Investment in govt securities4100Sale of Goods
    4200Sale of Services
    1300Long term Loans & Advances
    4500-4999Non-Operating Income
    1500-1899Current Assets4600Interest from Investments
    1500Accounts Receivables4700Dividend from Investments
    4800Profit from Sale of Fixed Assets
    1600Cash & Cash Equivalent4900Profit from Sale of Investments
    1610Bank-Current A/c
    1620Bank-OD A/c5000-5499Operating Expenses
    1630Petty Cash5000Purchase of Raw Materials
    5050Employee Benefit Expenses
    1700Inventories5100Rental/Lease Expenses
    1710Work-in-Progress5150Depreciation
    1720Finished Goods5200Amortization
    1730Raw Materials5250Professional Fees
    5300Legal Expenses
    1800Other Current Assets5350Electricity Expenses
    1810Prepaid Expenses5400Repairs & Maintenance
    1820Accrued Income5450Advertising Expenses
    1900-1999Contra Assets5500-5999Non-Operating Expenses
    1910Accumulated Depreciation5500Loss from Sale of Fixed Assets
    1920Accumulated Amortization5600Loss from Sale of Investments

    A downloadable excel sheet has been attached for your reference.

    Example of Chart of Accounts

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