| Financial 2013 Chart of Accounts |
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In accounting, the account is the container
that includes all information about financial transactions performed within
accounting periods. Thus, the Chart of Accounts is a group of accounts that
reflect the company’s financial status at any time of the fiscal year.
The main accounts form the structure of the Chart of Accounts, which is built in a hierarchal manner. The actual detailed accounts will be built based on these main accounts, where each account will be in the last level of the main account sub-structure that it belongs to. The effect of the financial transactions will be reflected on the detailed accounts that you can create through the Chart of Accounts page.
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