Overview

The aim of the COA is to enable the business to manage and control the activities effectively and efficiently. In so doing one of the purposes of management is to create an activity based accounting reporting structure for required key performance indicators. This will be achieved by utilising revenue activity codes and related expenses activity codes, to enable us to match expenses to revenue at a sufficiently detailsed level to meet future reporting requirements.

The COA basic string (16 numeric characters) consists of the following components:

Entity - 2 characters numeric (nn)

Cost Centre - 4 characters numeric (nnnn)

Activity - 5 characters numeric (nnnnn) and

Natural Account - 5 characters numeric (nnnnn)

For more details, please refer to Chart of Accounts Overview ( 189Kb)

The Chart of Accounts ( 224Kb) lists the different types of income and expenditure recognised in Finance One, the University's financial management information system. Each category of income and expense is given a natural account code - a 5 digit number. Natural account codes beginning with '4' refer to types of income and natural account codes beginning with '5' refer to types of expenses.

Any questions can be directed to Maxine Danaro on ext.2142