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Fremont Corporation Chart of Accounts Structure

Fremont Corporation uses a three-segment Accounting Flexfield to represent their chart of accounts. The Accounting Flexfield is constructed as follows:

Company - Cost Center - Account

For example, the account number 02-201-5100 corresponds to the Electrical group's (02-201) expense account for private, billable labor expense (5100).

Company Codes

Fremont Corporation has four subordinate organizations within the business group; Fremont defines company segments for each organization. The Company segment is Fremont's balancing segment.

Organization Company
Administration 01
Fremont Engineering 02
Fremont Construction 03
Fremont Services 04

Company and Cost Center Codes

Notice that each of the lowest level organizations (groups) in Fremont Corporation's organization hierarchy corresponds to a cost center.

Organization Company Cost Center
Fremont Corporation   000
Administration 01 100
Executive Office 01 101
Human Resources 01 102
Finance 01 103
Information Services 01 104
Fremont Engineering 02 200
Electrical 02 201
Structural 02 202
Mechanical 02 203
Environmental 02 204
Fremont Construction 03 300
West 03 301
Midwest 03 302
East 03 303
South 03 304
International 03 305
Fremont Services 04 400
Data Systems 04 401
Risk Analysis 04 402

Account Codes

Fremont Corporation uses a similar set of accounts for each company and cost center, although not every company and cost center has each kind of account. The Account segment is Fremont's natural account.

Account Description Type
1000 Cash Asset
1100 Accounts Receivable Asset
1101 Unbilled Receivables Asset
1200 Inventory Asset
1500 Intercompany Asset
1600 Prepayments - Employee Advances Asset
2100 Unearned Revenue Liability
2200 Accounts Payable, Employee Liability
2300 Payroll Clearing Liability
2400 Asset Usage Clearing Liability
2500 Accounts Payable, Supplier Invoice Liability
3100 Retained Earnings Ownership
4100 Private Professional Fee Revenue Revenue
4101 Public Professional Fee Revenue Revenue
4102 Private Borrowed and Lent Revenue
4103 Public Borrowed and Lent Revenue
4200 Computer Fee Revenue Revenue
4201 Vehicle and Equipment Revenue Revenue
4202 Misc Asset Revenue Revenue
4210 Usage Borrowed and Lent Revenue
4300 ODC Revenue Revenue
4400 Subcontractor Revenue Revenue
4500 Bonus Revenue Revenue
4600 Other Misc Revenue Revenue
5100 Private, Billable Labor Cost Expense
5101 Public, Billable Labor Cost Expense
5102 Private, Non-Billable Labor Cost Expense
5103 Public, Non-Billable Labor Cost Expense
5150 Marketing Labor Cost Expense
5151 Government Marketing Cost Expense
5152 Research & Development Labor Cost Expense
5153 Administration Labor Cost Expense
5154 Bid an Proposal Labor Cost Expense
5170 Holiday Time Expense
5171 Sick Time Expense
5172 Vacation Time Expense
5173 Overtime Labor Cost Expense
5199 Transfer Out to Inventory Expense
5200 Travel & Lodging Expense Expense
5201 Meals Expense Expense
5202 Miscellaneous Expense Expense
5400 Computer Expense Expense
5401 Vehicle and Equipment Expense Expense
5402 Other Asset Expense Expense
5500 Write-Offs Expense
5600 Construction Subcontracting Expense Expense
5610 Consulting Expense Expense
5620 Miscellaneous Subcontract Expense Expense
5630 Supplies Expense

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