A classification scheme consisting of a group of general ledger (G/L) accounts. A chart of accounts provides a framework for the recording of values, in order to ensure an orderly rendering of accounting data. The G/L accounts they contain are used by one or more company codes.
For each G/L account, the chart of accounts contains the account number, the account name and other, technical information.
A chart of accounts must be assigned to each company code. This chart of accounts is the operative chart of accounts and is used in both financial accounting and cost accounting. Other charts of accounts include: