What are some examples of chart of accounts?

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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 e.g., 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 in 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 range Account type Financial Statements
1 1000-1999 Assets Balance Sheet
1000-1499 Non-Current Assets
1500-1899 Current Assets
1900-1999 Contra Assets
2 2000-2999 Liabilities Balance Sheet
2000-2499 Non-Current Liabilities
2500-2999 Current Liabilities
3 3000-3999 Equity Balance Sheet
4 4000-4999 Revenues Profit & Loss A/c
4000-4499 Operating Income
4500-4999 Non-Operating Income
5 5000-5999 Expenses Profit & Loss A/c
5000-5499 Operating Expenses
5500-5999 Non-Operating Expenses

 

1000-1499 Non-Current Assets 2000-2499 Non-Current Liabilities
1000 Property, Plant & Equipment 2000 Long term debts
1010 Buildings 2010 A loan from Financial Institutions
1020 Land 2020 Loan from Others
1030 Plant & Machinery
1040 Furniture & Fixtures 2500-2999 Current Liabilities
1050 Computer & Peripherals 2500 Accounts Payables
1060 Leasehold Premises
1070 Vehicles 2600 Short term debts
2610 A loan from Financial Institutions
1100 Intangible Assets 2620 Loan from Others
1110 Goodwill
1120 Patent 2700 Other Current Liabilities
1130 Copyrights 2710 Pre-received Income
1140 Trademarks 2720 Outstanding Expenses
1150 Design
1160 Software 3000-3999 Equity
3100 Capital Contribution
1200 Long term Investments 3200 Retained Earnings
1210 Investment in shares
1220 Investment in bonds 4000-4499 Operating Income
1230 Investment in govt securities 4100 Sale of Goods
4200 Sale of Services
1300 Long term Loans & Advances
4500-4999 Non-Operating Income
1500-1899 Current Assets 4600 Interest from Investments
1500 Accounts Receivables 4700 Dividend from Investments
4800 Profit from Sale of Fixed Assets
1600 Cash & Cash Equivalent 4900 Profit from Sale of Investments
1610 Bank-Current A/c
1620 Bank-OD A/c 5000-5499 Operating Expenses
1630 Petty Cash 5000 Purchase of Raw Materials
5050 Employee Benefit Expenses
1700 Inventories 5100 Rental/Lease Expenses
1710 Work-in-Progress 5150 Depreciation
1720 Finished Goods 5200 Amortization
1730 Raw Materials 5250 Professional Fees
5300 Legal Expenses
1800 Other Current Assets 5350 Electricity Expenses
1810 Prepaid Expenses 5400 Repairs & Maintenance
1820 Accrued Income 5450 Advertising Expenses
1900-1999 Contra Assets 5500-5999 Non-Operating Expenses
1910 Accumulated Depreciation 5500 Loss from Sale of Fixed Assets
1920 Accumulated Amortization 5600 Loss from Sale of Investments

A downloadable excel sheet has been attached for your reference.

Example of Chart of Accounts