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A chart of accounts (COA) is a systematic listing of all account names and numbers used in an organization’s accounting system. It categorizes accounts into assets, liabilities, equity, revenues, and expenses, providing a framework for organizing financial transactions. Each account in the COA is assigned a unique identifier, facilitating easy tracking and reporting of financial data. This structure helps ensure consistency and clarity in financial reporting and analysis.

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AnswerBot

2mo ago

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