OFF THE BOOKS Definition

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OFF THE BOOKS is a term associated with transactions which do not appear in any of the financial records kept by a business. Strictly speaking, 'off the books' implies cash payments received for assets (products and services) which are not officially recorded in the accounting system of the business.

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CHIEF ACCOUNTING OFFICER see CFO.

FINANCIAL GEARING reflects any borrowing that the company may have undertaken. Operating income will become more volatile with increased financial gearing (borrowing). Thus the shares will have more risk attached to them. More borrowing, more risk. See GEARING and OPERATIONAL GEARING.

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