Chart of Accounts
**Chart of Accounts**
What is Chart of Accounts?
A chart of accounts (COA) is a financial organizational tool that provides a complete listing of every account in an accounting system. An account is a unique record for each type of asset, liability, equity, revenue, and expense. These accounts are used to classify and record all financial transactions, providing a framework for organizing and reporting financial information in a standardized format. It's commonly used to prepare financial statements like the balance sheet, income statement, and statement of cash flows.
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