Re: inheriting COA from other accounting package(s)

[Paul Foxworthy <pa...@cohsoft.com.au>]

Hi Rajesh,

A Chart of accounts needs to be able to support reporting in ways expected
by governments, auditors, etc. There are general principles of accounting
that organisations are expected to comply with. Two major ones are IFRS,
which originated in Europe and is now widely used, and GAAP, which more a
US thing. I have seen articles saying people are working on converging
Indian accounting standards with IFRS within five years.

So, I think there is some consensus on Charts of Accounts. If your chart
looks much like someone else's, there are solid reasons for that.

This Czech company offers free example IFRS and GAAP charts for download:
https://www.ifrs-gaap.com/accounting-examples . You could base yours on
these examples and "fill in the blanks" if there's something you see in
another accounting package that might be relevant.

Cheers

Paul Foxworthy


On 7 September 2017 at 18:58, Rajesh Mallah <ma...@gmail.com> wrote:

> Hi  ,
>
> I was planning to re-use the default COA of some popular accounting
> package(s) in India into OfBiz. This is so that accountants feel
> comfortable
> and familiar with the heads while working with OfBiz
>
> Any ideas if the default (top-level) COA of an accounting package be an
> IP of the company making it ?
>
> regds
> mallah.
>



-- 
Coherent Software Australia Pty Ltd
PO Box 2773
Cheltenham Vic 3192
Australia

Phone: +61 3 9585 6788
Web: http://www.coherentsoftware.com.au/
Email: info@coherentsoftware.com.au

Re: inheriting COA from other accounting package(s)

[Rajesh Mallah <ma...@gmail.com>]

Thanks Mr Paul  for the input.


It was a good learning for me.  Missing out
on this lively community I hope to involve again soon.

Currently I am re-using the generic data models of ofbiz for my
other projects. I really see it as a great enabler for many projects
that are about organizational data.


regds
mallah.








On Wed, Nov 22, 2017 at 11:41 AM, Paul Foxworthy <pa...@cohsoft.com.au>
wrote:

> Hi Rajesh,
>
> A Chart of accounts needs to be able to support reporting in ways expected
> by governments, auditors, etc. There are general principles of accounting
> that organisations are expected to comply with. Two major ones are IFRS,
> which originated in Europe and is now widely used, and GAAP, which more a
> US thing. I have seen articles saying people are working on converging
> Indian accounting standards with IFRS within five years.
>
> So, I think there is some consensus on Charts of Accounts. If your chart
> looks much like someone else's, there are solid reasons for that.
>
> This Czech company offers free example IFRS and GAAP charts for download:
> https://www.ifrs-gaap.com/accounting-examples . You could base yours on
> these examples and "fill in the blanks" if there's something you see in
> another accounting package that might be relevant.
>
> Cheers
>
> Paul Foxworthy
>
>
> On 7 September 2017 at 18:58, Rajesh Mallah <ma...@gmail.com>
> wrote:
>
> > Hi  ,
> >
> > I was planning to re-use the default COA of some popular accounting
> > package(s) in India into OfBiz. This is so that accountants feel
> > comfortable
> > and familiar with the heads while working with OfBiz
> >
> > Any ideas if the default (top-level) COA of an accounting package be an
> > IP of the company making it ?
> >
> > regds
> > mallah.
> >
>
>
>
> --
> Coherent Software Australia Pty Ltd
> PO Box 2773
> Cheltenham Vic 3192
> Australia
>
> Phone: +61 3 9585 6788
> Web: http://www.coherentsoftware.com.au/
> Email: info@coherentsoftware.com.au
>