This page presents a simple Python script that illustrates how to apply the COA design logic outlined in the account numbering section of the guidance page. It also includes sample scripts illustrating how a standardized COA can be mapped to financial statements reflecting its structure.
Capturing a company's particular financial structure will require some customization.
The downloadable COAs available in this section provide a perfectly adequate, ready‑to‑use foundation for financial statement mapping. While perfectly workable, some companies prefer the tailored feel of a bespoke solution. While the customization may be handled in‑house the effort and cost may be avoided by having a fully configured COA / financial statement map made to measure. Prices for tailored COAs mapped to custom financial statements start at €500.
For those who would rather outsource the entire financial reporting process, prices for complete financial reports including statements of comprehensive income, cash flows and changes in equity, as sell as footnotes and fully validated XBRL tagging start at €10,000.
First, make certain you have Python installed and run pip install pandas openpyxl in your terminal.
Once you have Python installed the first script will generate a chart of accounts including all the necessary subtotals. The next two scripts will generate a GAAP or IFRS balance sheet and profit and loss statement either in detail (for internal control and audit purposes) or summarized (for external reporting purposes).
Be certain your input data and the scripts (Python files) are in the same folder. If they are not, they will not work.
The remainder of this page is available in Pro view.