Standardized chart of Accounts

While generally comparable, IFRS and US GAAP do not provide identical guidance.

Thus, while this Standardized COA may be used for dual reporting purposes, adjustments will be necessary. Adjustments will also need if, for example, an IFRS parent consolidates a US GAAP subsidiary or vice versa.

The Illustrations section outlines most common differences between IFRS and US GAAP.

We strongly recommend reviewing the Illustrations section thoroughly before attempting to use the Standardized COA for dual reporting and/or consolidation purposes.

Illustrations

IFRS approaches accounting from a reporting-focused perspective, with emphasis on recognition, measurement, and financial statement presentation and disclosure. As such, it does not prescribe bookkeeping procedures or a standard chart of accounts. Entities operating in jurisdictions such as the UK, Canada, Australia, Japan, Korea, China, India, etc. may generally define any COA provided it yields a financial report consistent with IFRS guidance.

Nevertheless, as designing a workable COA is a time consuming and laborious process, many entities prefer to use an off-the-self version particularly if it can be, with minimal effort, adjusted to reflect the entity’s financial structure.

US GAAP approaches accounting from a reporting-focused perspective, with emphasis on recognition, measurement, and financial statement presentation and disclosure. As such, it does not prescribe bookkeeping procedures or a standard chart of accounts. Entities operating in the United States may define any COA provided it yields a financial report consistent with US GAAP guidance.

Nevertheless, as designing a workable COA is a time consuming and laborious process, many entities prefer to use an off the self-version particularly if it can be, with minimal effort be adjusted to reflects the entity’s financial structure.

IFRS and US GAAP approach accounting from a reporting-focused rather than procedural perspective. As such, neither define nor prescribe a standard charts of account. In many jurisdictions, e.g., the UK, Canada, Australia, Japan, Korea, China or India, a comparable approach is used.

By contrast, the accounting legislation of various European Union member states (such as France, Belgium or Luxembourg) defines a COA, compulsory for bookkeeping purposes. Internationally, rigid accounting structures are somewhat less common, found in jurisdictions such as Russia, OHADA member states or (for state enterprises) Nigeria.

Thus, the COAs presented here should only be used in jurisdictions where their use does not conflict with local legislation.

Note: some jurisdictions allow or require public interest entities to apply IFRS alongside or in place of national GAAP. In such jurisdictions, the COAs presented here may be used for IFRS purposes provided they do not conflict with other legislation.

As a general rule, only publicly traded entities have a formal obligation to apply IFRS or US GAAP guidance. As such, their accounting system must be robust enough to fulfill the extensive recognition and measurement guidance outlined in these standards.

Non-public entities in jurisdictions that do not mandate accounting practices have more flexibility and may elect to use any structure they choose. Nevertheless, a sound account structure will help any business, regardless of size, optimize its operational efficiency and fuel data-driven decision-making. Equally important, it allows the entity to fulfill the tax reporting obligation shared by all entities, regardless of size or ownership structure.

Since the IFRS SME standard | ASC non-public entity guidance is the backbone of accounting for all entities (except the smallest), COAs that reflect this guidance are useful to all entities even when they do not have a formal, IFRS or US GAAP reporting obligation.

As anyone who has ever started a business knows, starting a business is the easy part. Keeping it running smoothly and profitably is where the real challenge lies. To help those just starting out, this site publishes workable, basic COAs, that can be expanded as needed, free of charge. After all, every business that survives the startup phase makes the business community richer and more diverse so is in everyone's best interest.

The advanced version is suitable for a single large entity as well as a group of entities. The3 expanded version is designed for entities facing complex tasks such as accounting for various financial instruments or consolidating subsidiaries operating in foreign jurisdictions, particularly where they are also subject to non-GAAP accounting and/or reporting requirements. For publicly traded entities, the XBRL cross-referenced version is designed to assist in drafting the machine-readable financial reports required by some regulators.

A guide on how to set up the COA to serve various roles is presented on the implementation guidance page below.

Additional guidance on how to implement a COA is provided on this page.

The 2026 XBRL version has been updated with cross-references to the 2026 FASB issued XBRL taxonomy.

A version reflecting the 2026 IFRS taxonomy will be posted once the IASB releases its update.

The COA published on this page may be republished provided the following citation is provided:

Source: https://www.ifrs-gaap.com/chart-accounts.