Natural accounts are the key code within any general ledger. All general ledgers comprise of a Chart of Accounts. The Chart of Accounts consists of all the natural accounts in use by the organisation. Accounts are of the following primary types:
|Account Type||Account Codes|
|Assets||3000 - 3999|
|Liabilities||2000 - 2999|
|4000 - 4999|
|Equity||0000 - 0999|
|Revenue||9000 - 9999|
|Expenditure||5000 - 5999|
|6000 - 6999|
|Transfers||7000 - 7999|
|Internal Sales/Purchases||8000 - 8999|
The University's Financial Statements are a representation of the activity across these account types for the reporting period. The reporting period for ANU is a calendar year.
The University's Income Statement reports the net result of revenues and expenses arising in a surplus or deficit for the year (and incorporating transfers and internal sales/purchases). The net result for the year is then transferred to equity at the end of the year.
The University's Balance Sheet, reports the financial position of ANU, as at the end of the year, the Balance Date, being 31 December. The balance sheet reflects the assets and the Liabilities of ANU. Assets, less liabilities represents the Net Assets of ANU, which is equal to the University's Equity.