Accounting records are key sources of
information and evidence used to prepare, verify and/or audit the
financial statements. They also include documentation to prove
asset ownership for creation of liabilities and proof of monetary and non monetary
transactions.
Accounting records can take on many forms and include (among other camps):
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Ledgers
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Journals
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Bank statements
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Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to ...
s and agreements
*Verification statements
*Transportation
receipts
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Invoices
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Vouchers
Accounting documents or document records regroup every
document
A document is a written, drawn, presented, or memorialized representation of thought, often the manifestation of non-fictional, as well as fictional, content. The word originates from the Latin ''Documentum'', which denotes a "teaching" o ...
that plays a role in the preparation of
financial statements
Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.
Relevant financial information is presented in a structured manner and in a form which is easy to un ...
for a company, like income statements and balance sheets. They include records of monetary transactions, assets and liabilities, ledgers, journals, etc. Accounting documents and records are the physical objects upon which transactions are entered and summarized. Examples include such items as cancelled checks, paid bills, payrolls, subsidiary ledgers, bank reconciliations.
What is accounting documents?
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Accounting records can be in physical or electronic formats.
In some states, accounting bodies set rules on dealing with records from a presentation of financial statements or auditing
An audit is an "independent examination of financial information of a