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Chart of accounts example: A sample chart of accounts with examples

A chart of accounts keeps your accounts organized based on how they appear on your balance sheet and income statement. It includes the asset accounts your company owns, the liabilities your company owes others, equity accounts, revenue accounts, and expense accounts. And looking at your balance sheet accounts can help you get a...

What is Consolidation in Accounting? Meaning & Examples

Consolidation was first used as a tool by early accountants who sought to combine separate statements from individual companies into one comprehensive statement of accounts. It allowed for easier comparison between companies and improved upon traditional methods that were labor-intensive and often inaccurate at the time. Consolidation can be helpful for businesses with different subsidiaries...

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