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A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...
Detailed interactive documentation is also available. The flow of funds accounts follow naturally from double-entry bookkeeping; every financial asset is also a liability of some domestic or foreign human entity. A fundamental fact about any economic sector is its balance sheet, a breakdown of its physical and financial assets, and of its ...
In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.
The general ledger contains a page for all accounts in the chart of accounts [5] arranged by account categories. The general ledger is usually divided into at least seven main categories: assets, liabilities, owner's equity, revenue, expenses, gains and losses. [6] It is the system of record for an organization’s financial transactions. [7]
However, due to the fact that accounting is kept on a historical basis, the equity is typically not the net worth of the organization. Often, a company may depreciate capital assets in 5–7 years, meaning that the assets will show on the books as less than their "real" value, or what they would be worth on the secondary market.
2. Evaluate your investments and take your RMDs. The end of the year is an ideal time to review your investment strategy to make sure your portfolio is still on the right track to meet your goals.
A new joint investigation by American Banker and the San Antonio Current details the organization’s many problems and how the bank and insurer is currently “navigating a minefield of its own ...
The utility company has the right to choose any capital structure it deems appropriate, but regulators determine an appropriate capital structure and cost of capital for ratemaking purposes. [ 3 ] Various leverage or gearing ratios are closely watched by financial analysts to assess the amount of debt in a company's capital structure.