Definition

Noun: - Financial record information: All the numerical records, transactional details, and supporting documentation that form the basis for and substantiate a financial statement. This includes ledgers, journals, spreadsheets, and related documents, which may exist in physical (hard copy) or digital (machine-readable) formats.

Usage

• As a subject: must be accurate and complete for an audit to proceed smoothly.
• As an object: The analyst reviewed the from the last fiscal quarter.
• With prepositions: Discrepancies were found the . The report was prepared the .

Examples

• The auditors spent weeks verifying the company's .
• Modern software helps in organizing and analyzing vast amounts of .
• A secure backup of all is essential for business continuity.

Advanced Usage

• "to reconcile accounting data": To ensure that different sets of financial records agree with one another.
  • The finance team's primary task at month-end is to reconcile all accounting data.
• "the integrity of accounting data": Refers to the accuracy, consistency, and reliability of the financial information.
  • Regulators are focused on ensuring the integrity of a firm's accounting data.

Variants and Related Words

• Account (noun): A record of financial transactions for a particular asset, liability, equity, revenue, or expense item.
• Bookkeeping (noun): The routine recording of financial transactions, which generates the raw .
• Financial data (noun): A broader term that includes as well as market data, economic indicators, etc.

Synonyms

• Financial records
• Bookkeeping records
• Ledger data

Related Phrases

• Source documents: The original records (like invoices and receipts) that provide the evidence for entries in the .
• Trial balance: A report generated from the that lists all ledger account balances to check the equality of debits and credits.

Noun

1. all the data (ledgers and journals and spreadsheets) that support a financial statement; can be hard copy or machine readable