Accounting, Resources
A quick reference for everyday work: a one-page cheat sheet, a glossary of terms, the NAS chart of accounts and a library of ready-made journal entries. Save, print, copy.
Accounting, core rules and journal entries
1The core equation
- Assets = Equity + Liabilities
- Assets = Liabilities + Equity, always equal
- Assets, what you have
- Equity & liabilities, where it came from
2Debit and credit rule
- Asset account: balance and increase, Debit
- Liability/equity account: balance and increase, Credit
- Decrease, on the opposite side
3Double-entry
- Each transaction, on 2 accounts
- Debit on one, Credit on the other
- The amounts are always equal
- This is a journal entry (correspondence)
4Tax rates
- VAT, 12%
- Profit tax, 15%
- Income tax (payroll), 12%
- Turnover tax (retail), ~4%
5VAT calculation
- VAT =
amount × 12% - Total =
amount + VAT - VAT payable = output − input VAT
6Depreciation (straight-line)
- Annual =
(initial − salvage) ÷ life - Monthly =
annual ÷ 12 - Rate =
100% ÷ life
7Profit calculation
- Gross profit = revenue − cost
- Pre-tax profit = gross − period expenses
- Net profit = pre-tax − profit tax
8Most-used journal entries
- Goods sold:
Dt 4010, Kt 9040 - Cost of goods:
Dt 9110, Kt 2910 - Payroll:
Dt 9420, Kt 6710 - Depreciation:
Dt 9420, Kt 0200
The most-used accounts from Uzbekistan's NAS (National Accounting Standards) chart of accounts. Blue, asset, brown, liability/equity (source/obligation/capital/income).
Typical business transactions and their ready-made journal entries. Find the one you need and grab it with the Copy button.