Improving Charge Capture Processes in Healthcare

Part of a series on
Accounting
Constant purchasing power Historical cost Management Tax
Major types Audit Budget Cost Forensic Financial Fund Governmental Management Social Tax
Key concepts Accounting period Accrual Constant purchasing power Economic entity Fair value Going concern Historical cost Matching principle Materiality Revenue recognition Unit of account
Selected accounts Assets Cash Cost of goods sold Depreciation / Amortization (business) Equity Expenses Goodwill Liabilities Profit Revenue
Accounting standards Generally-accepted principles Generally-accepted auditing standards Convergence International Financial Reporting Standards International Standards on Auditing Management Accounting Principles
Financial statements Annual report Balance sheet Cash-flow Equity Income Management discussion Notes to the financial statements
Bookkeeping Bank reconciliation Debits and credits Double-entry system FIFO and LIFO Journal Ledger / General ledger Trial balance
Auditing Financial Internal Firms Report Sarbanes–Oxley Act
People and organizations Accountants Accounting organizations Luca Pacioli
Development History Research Positive accounting Sarbanes–Oxley Act
Misconduct Creative Earnings management Error account Hollywood Off-balance-sheet Two sets of books

Financial statement analysis (or just financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic decisions to earn income in future. These statements include the income statement, balance sheet, statement of cash flows, notes to accounts and a statement of changes in equity (if applicable). Financial statement analysis is a method or process involving specific techniques for evaluating risks, performance, valuation, financial health, and future prospects of an organization.^[1]

It is used by a variety of stakeholders, such as credit and equity investors, the government, the public, and decision-makers within the organization. These stakeholders have different interests and apply a variety of different techniques to meet their needs. For example, equity investors are interested in the long-term earnings power of the organization and perhaps the sustainability and growth of dividend payments. Creditors want to ensure the interest and principal is paid on the organizations debt securities (e.g., bonds) when due.

Common methods of financial statement analysis include horizontal and vertical analysis and the use of financial ratios. Historical information combined with a series of assumptions and adjustments to the financial information may be used to project future performance. The Chartered Financial Analyst designation is available for professional financial analysts.

Benjamin Graham and David Dodd first published their influential book "Security Analysis" in 1934.^{[2] [3]} A central premise of their book is that the market's pricing mechanism for financial securities such as stocks and bonds is based upon faulty and irrational analytical processes performed by many market participants. This results in the market price of a security only occasionally coinciding with the intrinsic value around which the price tends to fluctuate.^[4] Investor Warren Buffett is a well-known supporter of Graham and Dodd's philosophy.

The Graham and Dodd approach is referred to as Fundamental analysis and includes: 1) Economic analysis; 2) Industry analysis; and 3) Company analysis. The latter is the primary realm of financial statement analysis. On the basis of these three analyses the intrinsic value of the security is determined.^[4]

Horizontal analysis compares financial information over time, typically from past quarters or years. Horizontal analysis is performed by comparing financial data from a past statement, such as the income statement. When comparing this past information one will want to look for variations such as higher or lower earnings.^[5]

Vertical analysis is a percentage analysis of financial statements. Each line item listed in the financial statement is listed as the percentage of another line item. For example, on an income statement each line item will be listed as a percentage of gross sales. This technique is also referred to as normalization^[6] or common-sizing.^[5]

Financial ratios are very powerful tools to perform some quick analysis of financial statements. There are four main categories of ratios: liquidity ratios, profitability ratios, activity ratios and leverage ratios. These are typically analyzed over time and across competitors in an industry.

• Liquidity ratios are used to determine how quickly a company can turn its assets into cash if it experiences financial difficulties or bankruptcy. It essentially is a measure of a company's ability to remain in business. A few common liquidity ratios are the current ratio and the liquidity index. The current ratio is current assets/current liabilities and measures how much liquidity is available to pay for liabilities. The liquidity index shows how quickly a company can turn assets into cash and is calculated by: (Trade receivables x Days to liquidate) + (Inventory x Days to liquidate)/Trade Receivables + Inventory.
• Profitability ratios are ratios that demonstrate how profitable a company is. A few popular profitability ratios are the breakeven point and gross profit ratio. The breakeven point calculates how much cash a company must generate to break even with their start up costs. The gross profit ratio is equal to gross profit/revenue. This ratio shows a quick snapshot of expected revenue.
• Activity ratios are meant to show how well management is managing the company's resources. Two common activity ratios are accounts payable turnover and accounts receivable turnover. These ratios demonstrate how long it takes for a company to pay off its accounts payable and how long it takes for a company to receive payments, respectively.
• Leverage ratios depict how much a company relies upon its debt to fund operations. A very common leverage ratio used for financial statement analysis is the debt-to-equity ratio. This ratio shows the extent to which management is willing to use debt in order to fund operations. This ratio is calculated as: (Long-term debt + Short-term debt + Leases)/ Equity.^[7]

DuPont analysis uses several financial ratios that multiplied together equal return on equity, a measure of how much income the firm earns divided by the amount of funds invested (equity).

A Dividend discount model (DDM) may also be used to value a company's stock price based on the theory that its stock is worth the sum of all of its future dividend payments, discounted back to their present value.^[8] In other words, it is used to value stocks based on the net present value of the future dividends.

Financial statement analyses are typically performed in spreadsheet software — or specialized accounting software — and summarized in a variety of formats.

An earnings recast is the act of amending and re-releasing a previously released earnings statement, with specified intent.^[9]

Investors need to understand the ability of the company to generate profit. This, together with its rate of profit growth, relative to the amount of capital deployed and various other financial ratios, forms an important part of their analysis of the value of the company. Analysts may modify ("recast") the financial statements by adjusting the underlying assumptions to aid in this computation. For example, operating leases (treated like a rental transaction) may be recast as capital leases (indicating ownership), adding assets and liabilities to the balance sheet. This affects the financial statement ratios.^[10]

Recasting is also known as normalizing accounts.^[11]

Financial analysts typically have finance and accounting education at the undergraduate or graduate level. Persons may earn the Chartered Financial Analyst (CFA) designation through a series of challenging examinations. Upon completion of the three-part exam, CFAs are considered experts in areas like fundamentals of investing, the valuation of assets, portfolio management, and wealth planning.

• Business valuation
• Financial audit
• Financial statement
• DuPont analysis
• Data analysis

• Investopedia
• Beginner's Guide to Financial Statements by SEC.gov

• SFAF - French Society of Financial Analysts
• ACIIA - Association of Certified International Investment Analysts
• EFFAS - European Federation of Financial Analysts Societies

Accounting term

This article is about accounting at the entity level. For national accounting, see System of National Accounts.

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Part of a series on
Accounting
Constant purchasing power Historical cost Management Tax
Major types Audit Budget Cost Forensic Financial Fund Governmental Management Social Tax
Key concepts Accounting period Accrual Constant purchasing power Economic entity Fair value Going concern Historical cost Matching principle Materiality Revenue recognition Unit of account
Selected accounts Assets Cash Cost of goods sold Depreciation / Amortization (business) Equity Expenses Goodwill Liabilities Profit Revenue
Accounting standards Generally-accepted principles Generally-accepted auditing standards Convergence International Financial Reporting Standards International Standards on Auditing Management Accounting Principles
Financial statements Annual report Balance sheet Cash-flow Equity Income Management discussion Notes to the financial statements
Bookkeeping Bank reconciliation Debits and credits Double-entry system FIFO and LIFO Journal Ledger / General ledger Trial balance
Auditing Financial Internal Firms Report Sarbanes–Oxley Act
People and organizations Accountants Accounting organizations Luca Pacioli
Development History Research Positive accounting Sarbanes–Oxley Act
Misconduct Creative Earnings management Error account Hollywood Off-balance-sheet Two sets of books

A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by account type. In computerized accounting systems with computable quantity accounting, the accounts can have a quantity measure definition. Account numbers may consist of numerical, alphabetic, or alpha-numeric characters, although in many computerized environments, like the SIE format, only numerical identifiers are allowed. The structure and headings of accounts should assist in consistent posting of transactions. Each nominal ledger account is unique, which allows its ledger to be located. The accounts are typically arranged in the order of the customary appearance of accounts in the financial statements: balance sheet accounts followed by profit and loss accounts.

The charts of accounts can be picked from a standard chart of accounts, like the BAS in Sweden. In some countries, charts of accounts are defined by the accountant from a standard general layouts or as regulated by law. However, in most countries it is entirely up to each accountant to design the chart of accounts.

A chart of accounts is usually created for an organization by an accountant and available for use by the bookkeeper.

Each account in the chart of accounts is typically assigned a name. Accounts may also be assigned a unique account number by which the account can be identified. Account numbers may be structured to suit the needs of an organization, such as digit/s representing a division of the company, a department, the type of account, etc. The first digit might, for example, signify the type of account (asset, liability, etc.). In accounting software, using the account number may be a more rapid way to post to an account, and allows accounts to be presented in numeric order rather than alphabetic order.

Accounts are used in the generation of a trial balance, a list of the active general ledger accounts with their respective debit and credit balances used to test the completeness of a set of accounts: if the debit and credit totals match, the indication is that the accounts are being correctly maintained. However, a balanced trial balance does not guarantee that there are no errors in the individual ledger entries.

Accounts may be added to the chart of accounts as needed; they would not generally be removed, especially if any transaction had been posted to the account or if there is a non-zero balance.

While some countries define standard national charts of accounts (for example France and Germany) others such as the United States and United Kingdom do not. In the European Union, most countries codify a national GAAP (consistent with the EU accounting directives) and also require IFRS (as outlined by the IAS regulation) for public companies. The former often define a chart of accounts while the latter does not. The European Commission has spent a great deal of effort on administrative tax harmonisation, and this harmonization is the main focus of the latest version of the EU VAT directive, which aims to achieve better harmonization and support electronic trade documents, such as electronic invoices used in cross border trade, especially within the European Union Value Added Tax Area. However, since national GAAPs often serve as the basis for determining income tax, and since income tax law is reserved for the member states, no single uniform EU chart of accounts exists.

There are various types of accounts:^[1]

1. Asset accounts are used to identify assets. An asset is a present right of an entity to an economic benefit (CF ^[2] E16). Common examples of asset accounts include cash on hand, cash in bank, receivables, inventory, pre-paid expenses, land, structures, equipment, patents, copyrights, licenses, etc. Goodwill is different from other assets in that it is not used in operations and cannot be sold, licensed or otherwise transferred.
2. Liability accounts are used to recognize liabilities. A liability is a present obligation of an entity to transfer an economic benefit (CF E37). Common examples of liability accounts include accounts payable, deferred revenue, bank loans, bonds payable and lease obligations.
3. Equity accounts are used to recognize ownership equity. The terms equity [for profit enterprise] or net assets [not-for-profit enterprise] represent the residual interest in the assets of an entity that remains after deducting its liabilities (CF E61). Equity accounts include common stock, paid-in capital, and retained earnings. Equity accounts can vary depending where an entity is domiciled as some jurisdictions require entities to keep various sub-classifications of equity in separate accounts.
4. Revenue accounts are used to recognize revenue. Revenues are inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or carrying out other activities (CF E80).
5. Expense accounts are used to recognize expenses. Expenses are outflows or other using up of assets of an entity or incurrences of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or carrying out other activities (CF E81).
6. Gain accounts are used to recognize gains. Gains are increases in equity (net assets) from transactions and other events and circumstances affecting an entity except those that result from revenues or investments by owners (CF E82). In practice, changes in the market value of assets (positive) or liabilities (negative) are recognized as gains while, for example, interest, dividends, rent or royalties received are recognized as other revenue.
7. Loss accounts are used to recognize losses. Losses are decreases in equity (net assets) from transactions and other events and circumstances affecting an entity except those that result from expenses or distributions to owners (CF E83). In practice, changes in the market value of assets (negative) or liabilities (positive) are recognized as losses while, for example, interest or charitable contributions are recognized as other expenses.
8. Income is the term generally used when referring to revenue and gains together. A separate term for the aggregation of expenses and losses does not exist.
9. Contra-accounts are accounts with negative balances that offset other balance sheet accounts. Examples are accumulated depreciation (offset against fixed assets), and the allowance for bad debts (offset against accounts receivable). Deferred interest is also offset against receivables rather than being classified as a liability. Contra accounts are also often referred to as adjustments or adjusting accounts.

A chart of accounts compatible with IFRS and US GAAP includes balance sheet (assets, liabilities and equity) and the profit and loss (revenue, expenses, gains and losses) classifications. If used by a consolidated or combined entity, it also includes separate classifications for intercompany transactions and balances.

Account Number—Account Title^[3]—Balance: Debit (Dr) / Credit (Cr)

1.0.0 Assets (Dr)

• 1.1.0 Cash And Financial Assets (Dr)
  • 1.1.1 Cash and Cash Equivalents (Dr)
  • 1.1.2 Financial Assets (Investments) (Dr)
  • 1.1.3 Restricted Cash and Financial Assets (Dr)
  • 1.1.4 Additional Financial Assets and Investments (Dr)
• 1.2.0 Receivables And Contracts (Dr)
  • 1.2.1 Accounts, Notes And Loans Receivable (Dr)
  • 1.2.2 Contracts (Dr)
  • 1.2.3 Nontrade And Other Receivables (Dr)
• 1.3.0 Inventory (Dr)
  • 1.3.1 Merchandise (Dr)
  • 1.3.2 Raw Material, Parts And Supplies (Dr)
  • 1.3.3 Work In Process (Dr)
  • 1.3.4 Finished Goods (Dr)
  • 1.3.5 Other Inventory (Dr)
• 1.4.0 Accruals And Additional Assets (Dr)
  • 1.4.1 Prepaid Expense (Dr)
  • 1.4.2 Accrued Income (Dr)
  • 1.4.3 Additional Assets (Dr)
• 1.5.0 Property, Plant And Equipment (Dr)
  • 1.5.1 Land And Land Improvements (Dr)
  • 1.5.2 Buildings, Structures And Improvements (Dr)
  • 1.5.3 Machinery And Equipment (Dr)
  • 1.5.4 Furniture And Fixtures (Dr)
  • 1.5.5 Right Of Use Assets (Classified As PP&E) (Dr)
  • 1.5.6 Other Property, Plant And Equipment (Dr)
  • 1.5.7 Construction In Progress (Dr)
• 1.6.0 Property, Plant And Equipment Accumulated Depreciation And Depletion (Cr)
  • 1.6.1 Accumulated Depletion (Cr)
  • 1.6.2 Accumulated Depreciation (Cr)
• 1.7.0 Intangible Assets (Excluding Goodwill) (Dr)
  • 1.7.1 Intellectual Property (Dr)
  • 1.7.2 Computer Software (Dr)
  • 1.7.3 Trade And Distribution Assets (Dr)
  • 1.7.4 Contracts And Rights (Dr)
  • 1.7.5 Right Of Use Assets (Dr)
  • 1.7.6 Crypto Assets (Dr)
  • 1.7.7 Other Intangible Assets (Dr)
  • 1.7.8 Acquisition In Progress (Dr)
• 1.8.0 Intangible Assets Accumulated Amortization (Cr)
• 1.9.0 Goodwill (Dr)

2.0.0 Liabilities (Cr)

• 2.1.0 Payables (Cr)
  • 2.1.1 Trade Payables (Cr)
  • 2.1.2 Dividends Payable (Cr)
  • 2.1.3 Interest Payable (Cr)
  • 2.1.4 Other Payables (Cr)
• 2.2.0 Accruals And Other Liabilities (Cr)
  • 2.2.1 Accrued Expenses (Including Payroll) (Cr)
  • 2.2.2 Deferred Income (Unearned Revenue) (Cr)
  • 2.2.3 Accrued Taxes (Other Than Payroll) (Cr)
  • 2.2.4 Other (Non-Financial) Liabilities (Cr)
• 2.3.0 Financial Liabilities (Cr)
  • 2.3.1 Notes Payable (Cr)
  • 2.3.2 Loans Payable (Cr)
  • 2.3.3 Bonds (Debentures) (Cr)
  • 2.3.4 Other Debts And Borrowings (Cr)
  • 2.3.5 Lease Obligations (Cr)
  • 2.3.6 Derivative Financial Liabilities (Cr)
  • 2.3.7 Other Financial Liabilities (Cr)
• 2.4.0 Provisions (Contingencies) (Cr)
  • 2.4.1 Customer Related Provisions (Cr)
  • 2.4.2 Ligation And Regulatory Provisions (Cr)
  • 2.4.3 Other Provisions (Cr)

3.0.0 Equity (Cr)

• 3.1.0 Owners Equity (Attributable To Owners Of Parent) (Cr)
  • 3.1.1 Equity At par (Issued Capital) (Cr)
  • 3.1.2 Additional Paid-in Capital (Cr)
• 3.2.0 Retained Earnings (Dr / Cr)
  • 3.2.1 Appropriated (Cr)
  • 3.2.2 Unappropriated (Cr)
  • 3.2.3 Deficit (Dr)
  • 3.2.4 In Suspense Zero
• 3.3.0 Accumulated OCI (Dr / Cr)
  • 3.3.1 Exchange Differences On Translation (Dr / Cr)
  • 3.3.2 Cash Flow Hedges (Dr / Cr)
  • 3.3.3 Gains And Losses On Remeasuring Available-For-Sale Investments (Dr / Cr)
  • 3.3.4 Remeasurements Of Defined Benefit Plans (Dr / Cr)
  • 3.3.5 Revaluation Surplus (IFRS only) (Cr)
• 3.4.0 Other Equity Items (Dr / Cr)
  • 3.4.1 ESOP Related Items (Dr / Cr)
  • 3.4.2 Subscribed Stock Receivables (Dr)
  • 3.4.3 Treasury Stock (Not Extinguished) (Dr)
  • 3.4.4 Miscellaneous Equity (Cr)
• 3.5.0 Noncontrolling (Minority) Interest (Cr)

4.0.0 Revenue (Cr)

• 4.1.0 Recognized Point Of Time (Cr)
  • 4.1.1 Goods (Cr)
  • 4.1.2 Services (Cr)
• 4.2.0 Recognized Over Time (Cr)
  • 4.2.1 Products (Cr)
  • 4.2.2 Services (Cr)
• 4.3.0 Adjustments (Dr)
  • 4.3.1 Variable Consideration (Dr)
  • 4.3.2 Consideration Paid (Payable) To Customers (Dr)
  • 4.3.3 Other Adjustments (Dr)

5.0.0 Expenses (Dr)

• 5.1.0 Expenses Classified By Nature (Dr)
  • 5.1.1 Merchandise, Material, Parts And Supplies (Dr)
  • 5.1.2 Employee Benefits (Dr)
  • 5.1.3 Services (Dr)
  • 5.1.4 Rent, Depreciation, Amortization And Depletion (Dr)
  • 5.1.5 Increase (Decrease) In Inventories Of Finished Goods And Work In Progress (Dr / Cr)
  • 5.1.6 Other Work Performed By Entity And Capitalized (Cr)
• 5.2.0 Expenses Classified By Function (Dr)
  • 5.2.1 Cost Of Sales (Dr)
  • 5.2.2 Selling, General And Administrative (Dr)
  • 5.2.3 Credit Loss (Reversal) On Receivables (Dr / Cr)

6.0.0 Other (Non-Operating) Income And Expenses (Dr / Cr)

• 6.1.0 Other Revenue And Expenses (Dr / Cr)
  • 6.1.1 Other Revenue (Cr)
  • 6.1.2 Other Expenses (Dr)
• 6.2.0 Gains And Losses (Dr / Cr)
  • 6.2.1 Foreign Currency Transaction Gain (Loss) (Dr / Cr)
  • 6.2.2 Gain (Loss) On Investments (Dr / Cr)
  • 6.2.3 Gain (Loss) On Derivatives (Dr / Cr)
  • 6.2.4 Crypto Asset Gain (Loss) (Dr / Cr)
  • 6.2.5 Gain (Loss) On Disposal Of Assets (Dr / Cr)
  • 6.2.6 Debt Related Gain (Loss) (Dr / Cr)
  • 6.2.7 Impairment Loss (Dr)
  • 6.2.8 Other Gains And Losses (Dr / Cr)
• 6.3.0 Taxes (Other Than Income And Payroll) And Fees (Dr)
  • 6.3.1 Real Estate Taxes And Insurance (Dr)
  • 6.3.2 Highway (Road) Taxes And Tolls (Dr)
  • 6.3.3 Direct Tax And License Fees (Dr)
  • 6.3.4 Excise And Sales Taxes (Dr)
  • 6.3.5 Customs Fees And Duties (Not Classified As Sales Or Excise) (Dr)
  • 6.3.6 Non-Deductible VAT (GST) (Dr)
  • 6.3.7 General Insurance Expense (Dr)
  • 6.3.8 Administrative Fees (Revenue Stamps) (Dr)
  • 6.3.9 Fines And Penalties (Dr)
  • 6.3.10 Miscellaneous Taxes (Dr)
  • 6.3.11 Other Taxes And Fees (Dr)
• 6.4.0 Income Tax Expense (Benefit) (Dr / Cr)

7.0.0 Intercompany And Related Party Accounts (Dr / Cr)

• 7.1.0 Intercompany And Related Party Assets (Dr)
  • 7.1.1 Intercompany Balances (Eliminated In Consolidation) (Dr)
  • 7.1.2 Related Party Balances (Reported Or Disclosed) (Dr)
  • 7.1.3 Intercompany Investments (Dr)
• 7.2.0 Intercompany And Related Party Liabilities (Cr)
  • 7.2.1 Intercompany Balances (Eliminated In Consolidation) (Cr)
  • 7.2.2 Related Party Balances (Reported Or Disclosed) (Cr)
• 7.3.0 Intercompany And Related Party Income And Expense (Dr / Cr)
  • 7.3.1 Intercompany And Related Party Income (Cr)
  • 7.3.2 Intercompany And Related Party Expenses (Dr)
  • 7.3.3 Income (Loss) From Equity Method Investments (Dr)

The French generally accepted accounting principles chart of accounts layout is used in France, Belgium, Spain and many francophone countries. The use of the French GAAP chart of accounts layout (but not the detailed accounts) is stated in French law.

In France, liabilities and equity are seen as negative assets and not account types in themselves, just balance accounts.

• Class 6 Costs Accounts
• Class 7 Revenues Accounts

• Class 8 Special Accounts

The Spanish generally accepted accounting principles chart of accounts layout is used in Spain. It is very similar to the French layout.

• Class 3 Stocks Accounts
• Class 4 Third-Party Accounts
• Class 5 Bank & Cash

• Class 6 Costs Accounts
• Class 7 Revenues Accounts

• Class 8 Expenses Recognised In Equity
• Class 9 Income Recognised In Equity

The complete Swedish BAS standard chart of about 1250 accounts is also available in English and German texts in a printed publication from the non-profit branch BAS organisation. BAS is a private organisation originally created by the Swedish industry and today owned by a set general interest groups like, several industry organisations, several government authorities (incl GAAP and the revenue service), the Church of Sweden, the audits and accountants organisation and SIE (file format) organisation, as close as consensus possibly (a Swedish way of working without legal demands).

The BAS chart use is not legally required in Sweden. However, it is politically anchored and so well developed that it is commonly used.

The BAS chart is not an SIS national standard because SIS is organised on pay documentation and nobody in the computer world are paying for standard documents^{[citation needed]}. BAS were SIS standard but left. SIS Swedish Standards Institute is the Swedish domestic member of ISO. This is not a government procurement problem due to the fact all significant governmental authorities are significant members/part owners of BAS.

An almost identical chart of accounts is used in Norway.

• 1150 Buildings and land assets
• 1200 Inventories, Machines
• 1210 Alterna
• 1220 IngDirect Savings
• 1230 Tangerine chequing
• 1240 Account Receivable

• 2300 Loans
• 2400 Short debts (payables 2440)
• 2500 Income Tax Payable
• 2600 VAT Payable
• 2700 Wages Payable
• 2800-2999 other liabilities

• 3000 Revenue Accounts

• 4000 Costs directly related to revenues
• 5000-7999 General expense Accounts
• 8000 Financial Accounts
• 9000 Contra-accounts

• General ledger
• Financial statement
• BAS Swedish standard chart of accounts, Version in English
• French generally accepted accounting principles
• Metadata, or "data about data." The Chart of accounts is in itself Metadata. It's a classification scheme that enables (intelligent) aggregation of individual financial transactions into coherent, and hopefully informative, financial statements.
• XBRL eXtensible Business Reporting Language, and the related, required encoding (or "tagging") of public company financial statement data in the U.S. by the Securities and Exchange Commission. In those instances The Chart of accounts must support the required encodings.
• Regulation S-X, Regulation S-K and Proxy statement In the U.S. the Securities and Exchange Commission prescribes and requires numerous quarterly and annual financial statement disclosures. A large portion of the required disclosures are numeric and must be supported by the Chart of accounts.