California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 40 - Industrial Loans › Article 3 - Books and Records › Section 40.304 - Uniform Classification of Accounts

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An industrial loan company shall use the following account
					 numbers and titles. Additional accounts to be used must have titles that are
					 adequately explanatory and must be numbered under the appropriate grouping.
					 However, an industrial loan company formed prior to Janaury 1, 1974 may use a
					 different series of account numbers and titles, provided a cross-index is
					 maintained which shows the account numbers and titles required by this section
					 opposite the corresponding account numbers and titles used by such industrial
					 loan company.
CHART OF ACCOUNTS ASSET
								ACCOUNTS
Account No.
Account
								Name
CASH
1000
This series of accounts shall include cash on hand,
								change funds, petty cash funds, and all deposits in banks or trust companies
								including time certificates of deposit.
INVESTMENTS
1100
This account or series of accounts shall contain
								investments made pursuant to Section
								18022 of
								the Financial Code.
1200
Allowance for Decline of Market Value of
								Investments Below Cost.
RECEIVABLES
1300
Loans Receivable--Precomputed.
1320
Loans Receivable--Interest-Bearing.
1340
Conditional Sale Contracts.
1350
Direct Lease Obligations.
1360
Floorings.
1380
Factoring.
1390
Other Receivables. This series of accounts shall
								include any other obligations receivable acquired under the Industrial Loan
								Law.
1400
Unearned Charges--Loans.
1440
Unearned Discount--Contracts.
1450
Unearned Charges--Direct Lease
								Obligations.
1460
Other Deferred Income.
1480
Reserve for Losses.
1485
Special Reserves--Delinquent Real Estate
								Accounts.
1490
Dealers Reserves and Withholds. In addition to the
								above accounts this series shall include any other unearned income, deferred
								credits, or reserves applicable to the receivables.
COMPANY PROPERTY
1500
This series of accounts shall include land and
								buildings owned and occupied, including land used for parking, office
								furniture, fixtures and equipment, automobiles, and leaseholds and
								improvements.
1600
This account or series of accounts shall be used to
								record depreciation and amortization of company property.
REAL PROPERTY HELD FOR SALE
1700
Real Property Held for Sale.
1710
Accumulated Depreciation--Real Property Held for
								Sale.
1720
Allowance for Losses on Real Property Held for
								Sale. The above accounts shall be used for real property acquired through
								foreclosure or in satisfaction of debts previously contracted.
1725
Special Reserve--Real Property Held for
								Sale.
1730
Notes Payable Secured by Real Property Held for
								Sale. This account shall be used to record the amounts of any senior liens on
								real property recorded in Account No. 1700.
CONTRACTS OF SALE REAL PROPERTY
1750
Contracts of Sale--Real Property. This account
								shall be used to record sales of real property on contracts of
								sale.
1760
Deferred Profit on Contracts of Sale--Real
								Property. This account may be used to record any profit from the sale of real
								property that has been deferred.
1780
Notes Payable Secured by Real Property on Contracts
								of Sale. This account shall be used to record the amounts of any senior liens
								on real property sold on contracts of sale.
OTHER ASSETS
1800
Misc. Receivables.
1820
Prepaid Expenses.
1850
Deferred Charges.
1870
Other Assets.
1900
This series of accounts shall be used to record
								assets not classified specifically in other accounts.
LIABILITY ACCOUNTS
Account No.
Account
								Name
INVESTMENT CERTIFICATES
2000
Installment Investment Certificates.
2100
Full-Paid Investment Certificates.
2150
Accrued Interest on Investment
								Certificates.
BORROWINGS
2200
Notes Payable--Banks.
2300
Notes Payable--Parent Company or
								Affiliate.
2400
Notes Payable--Other.
2450
Accrued Interest on Borrowings.
OTHER LIABILITIES
2500
Notes Payable on Company Premises.
2600
Accounts Payable.
2700
Income Taxes Accrued or Payable.
2800
Other Accruals and Payables.
2900
Other Liabilities.
2950
This series of accounts shall be used to record
								liabilities not classified specifically in other accounts.
CAPITAL ACCOUNTS
3000
Capital Stock. This account shall reflect at least
								the par value of outstanding shares.
3100
Paid-in Surplus. This account shall include the
								premiums on the sale of shares, contributions by stockholders and may include
								amounts transferred from earned surplus.
3200
Earned Surplus.
PROFIT AND LOSS ACCOUNTS
INCOME
4000
Charges Earned on Loans.
4100
Discount Earned on Contracts.
4150
Charges Earned on District Lease
								Obligations
4200
Charges Earned on Floorings.
4300
Discount Earned on Factoring and Other Purchased
								Obligations.
4400
Late, Extension and Collection Charges.
4500
Insurance Commissions.
4600
Income on Investments.
4700
Rental Income--Company Premises.
4750
Rental Income--Real Property Held for
								Sale.
4800
Gain on Sale of Real Property.
4850
Real Property Appraisal Fees.
4900
Misc. Income.
EXPENSES
5000
Direct Leasing Expenses.
5100
Advertising and Promotion.
Account No.
Account
								Name
5200
Thrift Guaranty Corporation Assessment.
5300
Insurance and Bond Premiums.
5400
Legal Services and Expense.
5500
Professional Audit and Accounting
								Services.
5600
Data Processing Expense.
5700
State Supervisory Examinations and
								Assessments.
5800
Occupancy Expenses.
5900
Provision for Losses.
6000
Directors' Fees and Expenses.
6100
Officers' Salaries and Bonuses.
6200
Employees' Salaries and Bonuses.
6300
Management Fees.
6400
Contribution to Retirement, Pension, Annuity and
								Similar Plans.
6500
Losses on Real Property Held for Sale.
6600
Expenses of Real Property Held for
								Sale.
6700
License Fees and Taxes.
6800
Telephone and Telegraph.
6900
Travel.
7000
Depreciation of Company Property.
7100
Other Administrative and Operating
								Expenses.
7200
Certificate Interest 7300 Interest on Borrowed
								Funds.
7400
Provision for Income Taxes
1. Change
					 without regulatory effect renumbering and amending former section
					 1137 to new section
					 40.304 filed 8-19-97 pursuant to
					 section 100, title 1, California Code of
					 Regulations (Register 97, No. 34).
Note: Authority cited: Section
						18347,
						Financial Code. Reference: Section
						18029,
						Financial Code.