YCOA Chart of Accounts - IFRS

[wnash7658]

Can anyone confirm that YCOA is following a general format of an IFRS chart of accounts?

Regards

Warrem

[OwenLiu]

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[agnessobisz · Accepted solution]

As per my understanding: there is no general format recommended by IASB. Every company can use own chart of account under condition that it gives possibility to prepare the required IFRS financial statements.

By the way: also the IFRS recommended financial statements may be changed to some extent to show the true and fair picture of a company (it is the "rules based framework" only).

SAP has provided YCOA as predefined solution to speed-up the implementation process.