Accounting Records
Barron's Accounting Dictionary:
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Accounting Records
Various journals (e.g., cash receipts journal, general journal), ledgers (e.g., general ledger, subsidiary ledger), and the sources of information for these formal records such as sales invoices, checks, vouchers, and written agreements.
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Investopedia Financial Dictionary:
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Accounting Records
All of the documentation and books involved in the preparation of financial statements or records relevant to audits and financial reviews. Accounting records include records of assets and liabilities, monetary transactions, ledgers, journals, and any supporting documents such as checks and invoices.
Investopedia Says:
Rules and laws are generally in place to force accounting entities and accounting firms to retain accounting records for a specified period of time. In the U.S., the SEC requires that accounting firms retain records from audits and reviews for at least seven years and that they retain any records that support or cast doubt on the conclusions of an audit.
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Copyrights:
Barron's Accounting Dictionary
Dictionary of Accounting Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
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Mentioned in
Sales Journal
(business term)
Physical Inventory
(business term)
Audit
(legal term)
Adjusting Entry
(business term)
Independent Audit
(legal term)
» More