9 | Chart of Accounts (COA) Explained: The Accounting Bucket System
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9 | Chart of Accounts (COA) Explained: The Accounting Bucket System
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About this listen
How do businesses keep their finances organized? With the Chart of Accounts (COA)! This episode breaks down this essential accounting tool, explaining exactly what the COA is and why it's the backbone of every company's financial records. We use the ultimate "accounting bucket system" analogy to show how transactions are sorted into categories like Assets, Liabilities, Revenue, and Expenses. Tune in to understand the COA and take your first step toward mastering financial statements.
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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.