ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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BOOKS OF RECORD Definition
BOOKS OF RECORD are all mandatory entries into those documents that track the activity, events, or decisions pertaining to the subject for which the records are maintained, e.g., board of director minutes, births or deaths, and marriage licenses.
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OPEN TO BUY is the dollar amount budgeted by a business for inventory purchases for a specific time period.
ADVISORY SERVICES is a consulting service in which the CPA develops the
findings, conclusions, and recommendations presented for client decision-making.
This differs from attestation, where the CPA expresses a conclusion about a
written assertion of another.