A chart of accounts (CoA) is a structured list of all the individual financial accounts used by a business to record its financial transactions. It serves as a comprehensive framework that categorises and organises various types of financial activities, such as assets, liabilities, revenue, expenses, and equity. The chart of accounts provides a standardised system for classifying financial information, facilitating accurate bookkeeping, financial reporting, and analysis. Each account is assigned a unique code or number to ensure consistency and ease of reference when recording and analysing financial data.
