use the same classification of accounts it will enable valuable compari- 
sons to be made of the cost of service in different communities. While 
the Classification presented may not fill the bill in every particular, it 
is of a character by which corrections, amendments, or additions can 
be readily made without disturbing accounts unaffected thereby. * 
The Classification, as herein presented, has been developed for a cham- 
ber of commerce of medium size, that is, one where, in addition to 
the secretary, there are two or three specially organized headquarters 
departments and a number of standing and special committees, some 
of which incur considerable expense. No attempt has been made, 
however, to introduce accounts for any of the special activities in 
which a chamber may engage. For example, no provision is made 
for restaurant or club-room accounts. The discussion is confined to 
the essential things in chamber of commerce accounting which will 
be common to almost every organization. 
The general ledger accounts of a chamber of commerce may be 
appropriately grouped under the following headings: 
1000 — Asset Accounts 
2000 — Liability Accounts 
3000 — Income Accounts 
2000 |__ Expense Accounts 
9000 
In the classification each of these groups is subdivided logically 
so that accounts will appear in the General Ledger for each important 
item. 
Some of these accounts are in the nature of controlling accounts. 
A controlling account is one whose balance represents the total of 
the balances of a number of underlying or subsidiary accounts carried 
in a separate ledger. For example, 1122— Accounts Receivable, Dues, 
is the controlling account for the Members’ Ledger, which it will be 
recalled consists of ledger cards, one for each member. Whenever 
a controlling account is carried, a reconciliation of the subsidiary 
accounts with the controlling balance should be made monthly. 
Attention is next called to the fact that in the account classifica- 
tion there are certain numbered headings which in themselves are not 
* The Interstate Commerce Commission, as is well known, has prescribed a uni- 
form classification of accounts for all common carriers coming within its jurisdiction. 
In this way comparisons of operating results are assured. However, the Commission’s 
classification is subject to further division by any individual carrier if he wishes to 
keep his accounts in greater detail. Furthermore, the Commission authorizes changes 
in classification from time to time as necessity arises. 
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