Basic IFRS chart of accounts

Release notes

This chart of accounts includes basic IFRS compatible classifications and sub-classifications.

The IASB does not publish an "IFRS chart of accounts".

Companies may use any chart of accounts provided it is consistent with published recognition guidance (link:

This chart has been designed to be consistent with this guidance.

While users may delete unnecessary / add additional sub-accounts, they are advised to keep its general structure intact.

Prior to use, users are advised to add additional, specific accounts.

For example, a company with petty cash and two bank accounts, would add:

Account Title Account #
Assets 1
--- ---
Cash And Cash Equivalents 1.9
Cash 1.9.1
Petty cash
Cash in bank
Cash in bank, account one
Cash in bank, account two
--- ---

A company with customers (i.e. customer # 123, customer # 234, customer number # 345), would add:

Account Title Account #
Assets 1
--- ---
Receivables 1.8
Trade Receivables 1.8.1
Customer 123
Customer 234
Customer 345
--- ---

In addition to permanent accounts, temporary accounts for individual receivables (i.e invoice # 00321, invoice # 00332, invoice # 00358), may also be added:

Account Title Account #
Assets 1
--- ---
Receivables 1.8
Trade Receivables 1.8.1
Customer 123
Invoice 00321
Invoice 00321
Invoice 00321
--- ---

This chart does not make a current/non-current distinction.

As the current / non-current status of an item is a reporting rather than recognition issue, incorporating the current / non-current distinction into the account structure not only adds unnecessary complexity, but can lead to unnecessary item reclassification.

IAS 1.60 An entity shall present current and non-current assets, and current and non-current liabilities, as separate classifications in its statement of financial position in accordance with paragraphs 66–76 except when a presentation based on liquidity provides information that is reliable and more relevant. When that exception applies, an entity shall present all assets and liabilities in order of liquidity.

For example, a company can acquire an available-for-sale financial instrument with the intention of holding it for less than 12 months then, during the holding period, change its intention.

Nevertheless, as some companies prefer a chart of accounts that makes this distinction, a current / non-current chart of accounts is available to subscribers.

This chart includes expenses classified by both nature and function.

IFRS requires nature of expense disclosure, and permits both function and nature of expense reporting.

IAS 1.104 An entity classifying expenses by function shall disclose additional information on the nature of expenses, including depreciation and amortisation expense and employee benefits expense.

IAS 1.99 An entity shall present an analysis of expenses recognised in profit or loss using a classification based on either their nature or their function within the entity, whichever provides information that is reliable and more relevant.

From an accounting perspective, a nature based account structure yields superior operational results.

For example, if accounts were organized by function, the result will resemble:

--- ---
Expenses Classified By Function 5.2
Cost Of Sales 5.2.1
Emloyee benefits
--- ---
Selling, General And Administrative 5.2.2
Emloyee benefits
--- ---

When accounts are initially organized by nature, the result can resemble:

  Account   Department
--- ---   ---
Expenses Classified By Nature 5.1    
Employee Benefits 5.1.3    
Production department 5.1.3 - 5.2.1
Sales department 5.1.3 -
Administrative department 5.1.3 -
--- ---    

Also note, while it would be possible to add a digit for country of domicile, subsidiary, segment, reporting unit etc., in practice it is more practical for each such entity to maintain separate accounts, which are then consolidated:

  Country   Account   Department
---     ---    
Employee Benefits - UK 1 - 5.1.3    
Production department - UK 1 - 5.1.3 - 5.2.1
Sales department - UK 1 - 5.1.3 -
Administrative department - UK 1 - 5.1.3 -
---     ---    
Employee Benefits - France 2 - 5.1.3    
Production department - France 2 - 5.1.3 - 5.2.1
Sales department - France 2 - 5.1.3 -
Administrative department - France 2 - 5.1.3 -
---     ---    

Account Title Account # Balance
Assets 1.0.0 Dr
Property, plant and equipment 1.1.0 Dr
Land 1.1.1 Dr
Buildings and structures 1.1.2 Dr
Machinery 1.1.3 Dr
Vehicles 1.1.4 Dr
Office Equipment 1.1.5 Dr
Furniture and fixtures 1.1.6 Dr
Other property, plant and equipment 1.1.70 Dr
Acquisition in progress 1.1.80 Dr
Accumulated fair value adjustments 1.1.98 Dr / (Cr)
Accumulated depreciation 1.1.99 (Cr)
Investment property 1.2.0 Dr
Investment Property Completed 1.2.1 Dr
Investment Property Under Construction Or Development 1.2.2 Dr
Accumulated fair value adjustments 1.2.98 Dr / (Cr)
Accumulated depreciation 1.2.99 (Cr)
Intangible assets Including Goodwill 1.3.0 Dr
Intangible assets other than goodwill 1.3.1 Dr
Acquisition in progress 1.3.80 Dr
Accumulated amortization 1.3.99 (Cr)
Goodwill 1.3.100 Dr
Financial instruments and investments 1.4.0 Dr
Group companies (intercompany balances) 1.4.1 Dr
Equity instruments 1.4.2 Dr
Debt instruments 1.4.3 Dr
Loans 1.4.4 Dr
Derivatives 1.4.5 Dr
Allowance for credit losses 1.4.97 (Cr)
Accumulated fair value adjustments 1.4.98 Dr / (Cr)
Amortized cost adjustment 1.4.99 (Cr)
Biological assets 1.5.0 Dr
At cost 1.5.1 Dr
At fair value 1.5.2 Dr
Accumulated fair value adjustments 1.5.98 Dr / (Cr)
Accumulated depreciation 1.5.99 (Cr)
Accrued and other assets 1.6.0 Dr
Pre-paid expenses 1.6.1 Dr
Accrued income 1.6.2 Dr
Tax other than income (refund) 1.6.4 Dr
Value added tax / goods service tax (refund) 1.6.5 Dr
Restricted Assets 1.6.6 Dr
Other financial assets 1.6.7 Dr
Other non-financial assets 1.6.8 Dr
Inventories 1.7.0 Dr
Raw material 1.7.1 Dr
Merchandise 1.7.2 Dr
Production supplies 1.7.3 Dr
Work in progress 1.7.4 Dr
Finished goods 1.7.5 Dr
Service providers 1.7.6 Dr
Other inventory 1.7.7 Dr
Adjustment for obsolete goods 1.7.98 (Cr)
Net realizable value adjustment 1.7.99 (Cr)
Acquisition In Progress 1.7.100 Dr
Trade and other receivables 1.8.0 Dr
Trade Receivables 1.8.1 Dr
Contract Assets 1.8.2 Dr
Other Receivables 1.8.3 Dr
Unbilled Revenue 1.8.4 Dr
Adjustments 1.8.99 (Cr)
Cash, cash equivalents and investments 1.9.0 Dr
Cash 1.9.1 Dr
Cash equivalents 1.9.2 Dr
Short-Term Investments 1.9.3 Dr
Other Cash And Cash Equivalents 1.9.4 Dr
Equity 2.0.0 (Cr)
Issued capital 2.1.0 (Cr)
Ordinary Shares 2.1.1 (Cr)
Preferred Shares 2.1.2 (Cr)
Par Value Per Share 2.1.3 (Cr)
Share Premium 2.1.4 (Cr)
Additional Paid In Capital 2.1.5 (Cr)
Retained earnings (loss) 2.3.0 Dr / (Cr)
Unappropriated 2.3.1 (Cr)
Appropriated (reserves) 2.3.2 (Cr)
Retained loss 2.3.3 Dr
Current Year's Retained Profit (Loss) 2.2.4 Dr / (Cr)
Other Reserves (Accumulated Other Comprehensive Income) 2.3 Dr / (Cr)
Revaluation Surplus 2.3.1 (Cr)
Reserve Of Exchange Differences On Translation 2.3.2 Dr / (Cr)
Reserve Of Cash Flow Hedges 2.3.3 Dr / (Cr)
Reserve Of Gains And Losses On Hedging Instruments That Hedge Investments In Equity Instruments 2.3.4 Dr / (Cr)
Reserve Of Change In Value Of Time Value Of Options 2.3.5 Dr / (Cr)
Reserve Of Change In Value Of Forward Elements Of Forward Contracts 2.3.6 Dr / (Cr)
Reserve Of Change In Value Of Foreign Currency Basis Spreads 2.3.7 Dr / (Cr)
Reserve Of Gains And Losses On Financial Assets Measured At Fair Value Through Other Comprehensive Income 2.3.8 Dr / (Cr)
Reserve Of Gains And Losses On Remeasuring Available-For-Sale Financial Assets 2.3.9 Dr / (Cr)
Reserve Of Share-Based Payments 2.3.10 Dr / (Cr)
Reserve Of Remeasurements Of Defined Benefit Plans 2.3.11 Dr / (Cr)
Amount Recognised Relating To Non-Current Assets Or Disposal Groups Held For Sale 2.3.12 (Cr)
Reserve Of Gains And Losses From Investments In Equity Instruments 2.3.13 (Cr)
Reserve Of Change In Fair Value Of Financial Liability Attributable To Change In Credit Risk Of Liability 2.3.14 (Cr)
Reserve For Catastrophe 2.3.15 (Cr)
Reserve For Equalisation 2.3.16 (Cr)
Reserve Of Discretionary Participation Features 2.3.17 (Cr)
Reserve Of Equity Component Of Convertible Instruments 2.3.18 (Cr)
Capital Redemption Reserve 2.3.19 (Cr)
Merger Reserve 2.3.20 (Cr)
Statutory Reserve 2.3.21 (Cr)
Other Equity 2.4 Dr / (Cr)
Other Equity Interest 2.4.1 (Cr)
Capital Reserve 2.4.2 (Cr)
Receivable For Shares (Share Subscribed But Unissued) 2.4.3 Dr
Treasury Shares 2.4.4 Dr
Controlling Interest 2.4.5 (Cr)
Non-Controlling Interest 2.4.6 (Cr)
Liabilities 3.0.0 (Cr)
Borrowings and financial liabilities 3.1.0 (Cr)
Loans 3.1.1 (Cr)
Bonds 3.1.2 (Cr)
Lease liabilities 3.1.3 (Cr)
Derivatives 3.1.4 (Cr)
Group companies (intercompany balances) 3.1.5 (Cr)
Other  financial liabilities 3.1.6 (Cr)
Provisions 3.2.0 (Cr)
Employee Benefits 3.2.1 (Cr)
Warranties 3.2.2 (Cr)
Refunds 3.2.3 (Cr)
Restructuring 3.2.5 (Cr)
Other Provisions 3.2.5 (Cr)
Trade And Other Payables 3.3 (Cr)
Trade Payables 3.3.1 (Cr)
Contract Liabilities 3.3.2 (Cr)
Related Party Payables 3.3.3 (Cr)
Other Payables 3.3.4 (Cr)
Accrued, Deferred And Other Liabilities 3.4 (Cr)
Deferred Income, Unearned Revenue 3.4.1 (Cr)
Advances 3.4.2 (Cr)
Accrued Liabilities 3.4.3 (Cr)
Dividend Payables 3.4.4 (Cr)
Interest Payable 3.4.5 (Cr)
Payables On Social Security  3.4.6 (Cr)
Tax other than income (refund) 3.4.7 (Cr)
Value added tax / goods service tax (refund) 3.4.8 (Cr)
Other Accrued Liabilities 3.4.9 (Cr)
Income tax liabilities 3.5.0 (Cr)
Current income tax payable 3.5.1 (Cr)
Deferred income tax liability 3.5.2 (Cr)
Other And Miscellaneous Liabilities 3.6 (Cr)
Government Grant Obligations 3.6.1 (Cr)
Liabilities Due To Central Banks 3.6.2 (Cr)
Other Liabilities 3.6.3 (Cr)
Revenue 4.0.0 (Cr)
Goods 4.1.0 (Cr)
Products 4.1.1 (Cr)
Merchandise 4.1.2 (Cr)
Goods recognized over time 4.1.80 (Cr)
Discounts 4.1.98 Dr
Adjustments 4.1.99 Dr
Services 4.2.0 (Cr)
Services recognized over time 4.2.1 (Cr)
Services recognized point of time 4.2.2 (Cr)
Discounts 4.2.98 Dr
Adjustments 4.2.99 Dr
Barter Sales 4.3.0 (Cr)
Other operating income 4.4.0 (Cr)
Operating Expenses 5.0.0 Dr
Expenses Classified By Nature 5.1.0 Dr
Raw Materials And Consumables 5.1.1 Dr
Merchandise 5.1.2 Dr
Employee Benefits 5.1.3 Dr
Services 5.1.4 Dr
Transportation Expense 5.1.5 Dr
Depreciation And Amortisation 5.1.6 Dr
Rental Expense 5.1.7 Dr
Tax Other Than Income 5.1.8 Dr
Other Expense By Nature 5.1.9 Dr
Changes In Inventories 5.1.60 Dr / (Cr)
Work Performed By Entity And Capitalised 5.1.61 (Cr)
Expenses classified by function 5.2.0 Dr
Cost of sales 5.2.1 Dr
Selling and distribution 5.2.2 Dr
Administrative 5.2.3 Dr
General 5.2.4 Dr
Other Expense By Function 5.2.5 Dr
Non-operating  income and expense 6.0.0 Dr / (Cr)
Other revenue 6.1.0 (Cr)
Finance Income 6.1.1 (Cr)
Interest Income 6.1.2 (Cr)
Dividends 6.1.3 (Cr)
Royalties 6.1.4 (Cr)
Licensees 6.1.5 (Cr)
Rental Income 6.1.6 (Cr)
Contractual Fines And Penalties 6.1.7 (Cr)
Income From Government Grants 6.1.8 (Cr)
Property Service Charge Income 6.1.9 (Cr)
Income From Reimbursements Under Insurance Policies 6.1.10 (Cr)
Other Revenue 6.1.11 (Cr)
Other expenses 6.2.0 Dr
Finance Costs 6.2.1 Dr
Interest Expense 6.2.2 Dr
Unwinding Discounts On Provisions 6.2.3 Dr
Donations And Subsidies 6.2.4 Dr
Dividends Classified As Expense 6.2.5 Dr
Gains And Losses 6.3 Dr / (Cr)
Foreign Exchange Gain (Loss) 6.3.1 Dr / (Cr)
Gains or losses on investments 6.3.2 Dr / (Cr)
Gains or losses on derivatives 6.3.3 Dr / (Cr)
Gains or losses on investment property 6.3.4 Dr / (Cr)
Gain (Loss) On Liability Extinguishment 6.3.5 Dr / (Cr)
Restructuring Activities 6.3.6 (Cr)
Expense (Income) On Discontinued Operations 6.3.7 Dr / (Cr)
Other Reversals Of Provisions 6.3.8 (Cr)
Other Comprehensive Income Reclassification Adjustments 6.4 Dr / (Cr)
Exchange Differences On Translation 6.4.1 Dr / (Cr)
Available-For-Sale Financial Assets 6.4.2 Dr / (Cr)
Cash Flow Hedges 6.4.3 Dr / (Cr)
Hedges Of Net Investment In Foreign Operations 6.4.4 Dr / (Cr)
Change In Value Of Time Value Of Options 6.4.5 Dr / (Cr)
Change In Value Of Forward Elements Of Forward Contracts 6.4.6 Dr / (Cr)
Change In Value Of Foreign Currency Basis Spreads 6.4.7 Dr / (Cr)
Financial Assets Measured At Fair Value Through Other Comprehensive Income 6.4.8 Dr / (Cr)
Group Companies 6.5 Dr / (Cr)
Equity Method Investments 6.5.1 Dr / (Cr)
Subsidiaries, Jointly Controlled Entities And Associates 6.5.2 Dr / (Cr)
Income Tax 7 Dr
Expense 7.1 Dr
Benefit 7.2 (Cr)