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A chart of accounts 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. Learn about the types, structure, administration and international aspects of charts of accounts.
A general ledger is a bookkeeping ledger that aggregates accounting data from journals and subledgers. It contains accounts for assets, liabilities, equity, revenue, expenses, gains and losses, and is used to prepare financial statements.
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. Learn about the origin, methods, and steps of bookkeeping, as well as the related professions and terms.
Learn about the definition, types and importance of accounting records, which are key sources of information and evidence for financial statements. Find out the rules and guidelines for accounting records in different countries and industries.
Double-entry bookkeeping is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. Every entry to an account requires a corresponding and opposite entry to a different account, based on the principle of debit and credit.
Single-entry bookkeeping is a method of bookkeeping that relies on a one-sided accounting entry to maintain financial information. It is used by many smaller businesses that do not need double-entry bookkeeping, which is more complex and self-balancing.
IPSAS are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in the preparation of financial statements. They are based on IFRS and aim to improve the quality of general purpose financial reporting by public sector entities.
The chart is the general guideline and every user can make any amendments and personally created accounts. The governments authorities accounting led by the Swedish National Financial Management Authority and the communes led by Swedish Association of Local Authorities and Regions have special versions with adding special accounts for their purpose.
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