Chart of Accounts #accounting #chartofaccounts | Study Point
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Chart of Accounts – Your Financial Map to Business Success! Every transaction in your business fits into 5 main categories: 💼 Assets – What your business owns: Office Equipment, Bank Accounts, Stock & more. 💰 Income – Sales, Consultancy, Other Income that fuels growth. 📉 Liabilities – What you owe: Loans, Accounts Payable, Taxes. 📈 Equity – Owner’s share: Capital, Drawings, Retained Earnings. 💳 Expenses – The cost of running the business: Rent, Salaries, Utilities & more. Understanding your
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