Where is the Chart of Accounts?

In Wakandi, you have full access to the Chart of Accounts.

1. Chart of Accounting
   • A chart of accounts lists the names of a company's accounts identified and made available for recording transactions in its general ledger.
   • List of all Asset, Liability, Equity, Revenue, and Expense accounts included in the company’s General Ledger.
   • The number of accounts included in the chart of accounts varies depending on the company's size. 
2. Parent Group
   This is the main group of accounts whereby other General ledger accounts falls under their respective nature. In Accounting, there are different Parent Groups where there are Financial Position Accounts and others for Income Statements. 
   
   The Statement of Financial Position consists of the following
   
   1. Assets Accounts
      
   2. Liabilities Accounts
      
   3. Owner’s (Stockholders’) Equity
      
      
      
      The Income Statements consist of the following
   4. Operating Revenues (Income Accounts)
      
      
      
   5. Operating Expenses (Expenses Accounts)