Accounting Records

(redirected from book of accounts)
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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 ?
State auditors are pressing the Bureau of Customs (BOC) to submit its appraisal report on the highly prized 60-piece Roumeliotes jewelry set seized from a crony of the late dictator Ferdinand Marcos to update the agency's book of accounts.
A good client book of accounts, in an area ripe for a little ingenuity and expansion.
Outa said the other audit query is over an unaccounted Sh1.5 billion in the book of accounts at the start of the 2017 financial year.