Accounting Records

(redirected from book of accounts)
Also found in: Legal.

Accounting Records

All documents that one uses to prepare financial statements and that one may use to defend against an audit. Accounting records include receipts, ledgers, sales records, and so forth. In the United States, one generally must retain accounting records for seven years in order to verify any irregularities that may be discovered later.
References in periodicals archive ?
Hilb Rogal & Hobbs Company (NYSE: HRH), the world's tenth largest insurance and risk management intermediary, announced that it has purchased a book of accounts from Benchmark Insurance Company, a major underwriter of retail grocers, effective as of May 1, 2006.
The Reserve Bank of India (RBI) has declared an auditor for a special audit of the book of accounts and transactions of First Leasing Company of India, from the year ended March 31, 2010.
She said the BIR required all candidates to record their donations and expenses in a book of accounts so the agency could monitor the taxable items.
Additionally, the company offers a searchable database of this performance information, combined with accounting management tools providing a clear view of an organization's book of accounts.