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Is there a coa guideline for indas


SK (NA)     07 April 2018

SK
NA 
 27 points

| My Other Post

Dear Friends,

I am a newbie here as a student of accounts wish to understand if there are any Template or guideline for Chart-Of-Accounts pertaining to accounting system by Indian Accounting Standards.  I have a breif understanding on the IND AS 1 (presentation of financial statments). However, do we have a Code based or Organized structure guideline that each Co. can implement based on their customization or suitablility. Pls advise.

My limited reference to IFRS below to support my question

The 'IFRS SYSTEM Master Chart of Accounts Codes' consist of five letters, for example CARTR where:

    CA = Class (Current Assets)
    R = Subclass (trade and other Receivables)
    TR = Descripttion (Trade Receivables)

The complete ‘IFRS SYSTEM Master Chart of Accounts Codes’ are as follows (1,849 codes):
 
Current assets - cash and cash equivalents  
CACOH Cash on hand
CACAB Cash at bank
CACOD Cash on deposit
CACSA Cash - Spare A
CACSB Cash - Spare B




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