Cal. Code Regs. tit. 10 § 40.304

Current through Register 2024 Notice Reg. No. 52, December 27, 2024

Section 40.304 - Uniform Classification of Accounts

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

Cal. Code Regs. Tit. 10, § 40.304

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.