chart of accounts

Financial Accounting (FI)

A chart of accounts is a classification of accounts defined in financial accounting as a framework for recording values and value flows in order to guarantee an orderly rendering of financial statements.

Classification

Business object

Structure

A chart of accounts can consist of objects that can simultaneously represent both expense or revenue accounts for Financial Accounting and cost or revenue elements for Controlling.

Integration

The operating, or transaction, chart of accounts is used in Financial Accounting and Controlling. In addition to the operating chart of accounts, you can set up a country chart of accounts to represent the account classifications required by the respective national laws and a corporate group chart of accounts to represent the account classifications required for consolidation purposes.