Documents

The General Chart of Accounts

• Established by the accounting standards authority
• Presents all the cccount numbers, titles and legal provisions to be respected by all companies
• Clarify terminology and organization
• Determine the function of accounts
• Determine the way in which entries are recorded
• Specify the presentation of summary documents

The General Chart of Accounts taks into account:

• National accounting
• Taxation
• Business practices

Records

Recording Book

• Includes all operations done during the fiscal year
• Describes each operation by account number, date, amount and type (debit or credit)

The Ledger Book

• Describes total balances for each account
• Shows the resulting balance for each account

Centralization

Accounting Balance

• Regroups the balance for each account
• Distinguish between credit and debit balances

Summary statements

Balance Sheet

• Describes the company's asets and liabilities at a give date in terms of uses and resources
• Table with resources = liabilities and assets = uses

Income Statement

• Summarize all expenses and income of the fiscal year without taking account the date of pay