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Former Member
Apr 02, 2014 at 08:04 PM

Chart of Accounts- SYSCOA Accounting

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Hi,

Currently I am working for Client located in West Africa. The Company is carrying out operations in many countries and they are having a operating chart of accounts as per IFRS requirements. But for West african countries, they have to follow a separate set of accounting standards known as SYSCOA. To implement to SYSCOA, I know the option of Country Chart of Accounts. But, I want to understand whether there is any principle requirement by SYSCOA law that, for such SYSCOA governed countries, SYSCOA accounts must be in the operating Chart of Accounts and it cannot be a secondary/country chart of Accounts. What is the exact requirement as per the SYSCOA law? Those Consultants who have worked on such scenario, please share your views.