book of account
Học thuậtThân thiện
Definition
Noun: 1. A bookkeeping ledger; a principal accounting record: A bound volume or systematic digital record where financial transactions of a business or entity are formally and chronologically recorded. It serves as the primary source for preparing financial statements.
Usage
- The auditor requested to see the company's book of account for the fiscal year.
- Every transaction, from sales to expenses, must be entered into the book of account.
- Maintaining an accurate book of account is a legal requirement for most businesses.
Advanced Usage
- The term is often used in its plural form, "books of account" or simply "the books", to refer to the complete set of a company's accounting records.
- Example: The investigation focused on irregularities in the firm's books of account.
Variants and Related Words
- Ledger (n): A specific type of book of account that records summarized transactions from journals, organized by account (e.g., cash ledger, sales ledger). It is a core component of the books of account.
- Journal (n): A book of original entry where transactions are first recorded chronologically before being posted to the ledger.
- Accounting records (n phrase): A broader term encompassing all documents involved in the accounting process, including books of account, invoices, and receipts.
Synonyms
- Ledger
- Account book
- Financial record
Related Phrases
- To keep the books: To maintain the books of account; to perform bookkeeping.
- Example: She is responsible for keeping the books for the small business.
- To audit the books: To officially examine the books of account for accuracy.
- Example: An external firm will audit the books at the end of the quarter.
Noun
- a record in which commercial accounts are recorded
- they got a subpoena to examine our books