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Chart of Accounts Limited company 2 Table of Contents 3 Sales 3 Other operating income 3 Income from shares in group undertakings 3 Income from participating interests 3 Income from other fixed asset investments 3 Income from other current asset investments .
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The Chart of Accounts' final method of organization is Account Numbers. Part of the strength of this method is the ability it provides users to recognize the Accounting Type and in some instances the Order of Liquidity simply by the Account Number assigned to the Account.
Number all of your asset accounts and enter each one into your chart of accounts. Examples of asset accounts include cash, prepaid insurance and rent, accounts receivable and equipment.
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A business firm needs to personalize its chart of accounts to some degree, to make sure it includes all accounts relevant to the specific business. For example, certain accounts appear in every company's chart of accounts, such as Cash or Accounts Receivable.
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By grouping similar accounts together, it will make it easier to remember where to code certain items and to do certain types of business analysis. As realtor or real estate agent, you can use this chart of accounts as a template to help you set up a way to track the revenues and expenses of .
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