Accounting records

Accounting records are key sources of information and evidence used to prepare, verify and/or audit the financial statements.

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.

In some states, accounting bodies set rules on dealing with records from a presentation of financial statements or auditing perspective.