Chart of Accounts

A chart of accounts is a systematic classification of those financial data elements an institution requires:

• Assemble information needed to utilize its resources properly and effectively,
• Prepare reports that will aid management in the discharge of its responsibilities, and,
• Inform interested parties on the financial affairs of the institution.

For ease of identification, ready reference, and to facilitate the recording and reporting of financial data by a mechanized process, a numbering system has been designed which provides for a unique code to be assigned to each element of data provided for within the structure of the Chart of Accounts.  The combination of these data elements is commonly referred to as an account code or account number.

The current Chart of Accounts for Hastings College of the Law became effective July 1, 1992.  Definitions of the logic and of each data element – fund, program, object – can be found here:

Chart of Accounts

The object code is one component of the chart of accounts (the last four digits of our account code).  Object codes facilitate reporting of outflows (expenses) and inflows (revenues) as well as asset and liability balances.  The following documents provide a detailed description or definition of the appropriate use of expense and revenue object codes.   

• Expense Object Code Glossary, by object number
• Expense Object Code Glossary, by object name
• Revenue Object Code Glossary, by object number
• Revenue Object Code Glossary, by object name