Main Classes of the Uniform Chart of Accounts
| Account Class | Definition | Operating Rule |
| 1. Current Assets | Assets convertible to cash within 1 year, such as cash, bank, and inventories. | Increases recorded as Debit, decreases as Credit. |
| 2. Non-Current Assets | Assets used for more than 1 year, such as buildings, vehicles, and fixtures. | Increases recorded as Debit, decreases as Credit. |
| 3. Short-Term Liabilities | Debts payable within 1 year (trade payables, taxes). | Increases recorded as Credit, decreases as Debit. |
| 4. Long-Term Liabilities | Bank loans and debts maturing beyond 1 year. | Increases recorded as Credit, decreases as Debit. |
| 5. Equity | Owners' rights over assets (capital, profits). | Increases recorded as Credit, decreases as Debit. |
| 6. Income Statement Accounts | Accounts tracking income and expenses during the period. | Expenses recorded as Debit, income as Credit. |
| 7. Cost Accounts | Accounts where production, service, or management costs are collected. | Recorded as Debit when expenditure is made. |
Key Account Groups and Details
1. Asset Accounts (Groups 1 and 2)
These accounts show the values owned by the business.
100 Cash / 102 Banks: Tracks the cash and deposit status of the business.
120 Trade Receivables: Represents credit receivables from customers.
153 Merchandise: The cost value of products purchased for resale.
254 Vehicles / 255 Fixtures: Vehicles and equipment used in the business.
2. Source Accounts (Groups 3, 4 and 5)
Shows how assets are financed (by debt or equity).
300 Bank Loans: Short-term credit debts.
320 Suppliers: Debts owed to suppliers from whom goods are purchased.
500 Capital: The primary source contributed upon the establishment of the business.
3. Income and Expense Accounts (Group 6)
600 Domestic Sales: The gross amount of sales made.
621 Cost of Merchandise Sold: The cost of sold products to the business.
632 General and Administrative Expenses: Administrative costs such as rent, electricity, and payroll.
Tip for Reading the Chart of Accounts
Account codes are three digits:
First Digit: Account Class (e.g., 1 - Current Assets)
Second Digit: Account Group (e.g., 10 - Liquid Assets)
Third Digit: General Ledger Account (e.g., 100 - Cash)