BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A chart of accounts (COA) is an index of all the financial accounts in the general ledger of a company. In short, it is an organizational tool that provides a digestible breakdown of all the financial transactions that a company conducted during a specific accounting period, broken down into subcategories.

Detailed explanation-2: -A chart of accounts is a list of all your company’s “accounts, ” together in one place. It provides you with a birds eye view of every area of your business that spends or makes money. The main account types include Revenue, Expenses, Assets, Liabilities, and Equity.

Detailed explanation-3: -A general ledger (GL) is a set of numbered accounts a business uses to keep track of its financial transactions and to prepare financial reports. Each account is a unique record summarizing a specific type of asset, liability, equity, revenue or expense.

Detailed explanation-4: -A chart of accounts (COA) is a list of financial accounts set up, usually by an accountant, for an organization, and available for use by the bookkeeper for recording transactions in the organization’s general ledger.

Detailed explanation-5: -A chart of accounts (COA) is a list of all the accounts you must use to record financial transactions in your general ledger.