ACCOUNTING RECORDS Definition

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ACCOUNTING RECORDS are the records of initial accounting entries and supporting records, such as checks and records of electronic fund transfers; invoices; contracts; the general and subsidiary ledgers; journal entries and other adjustments to the financial statements that are not reflected in journal entries; and records, such as work sheets and spreadsheets, supporting cost allocations, computations, reconciliations, and disclosures.

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COMPANY is an organized group of people to perform an activity, business or industrial enterprise.

LONG-TERM INVESTMENTS represents the investments a company intends to hold for over a one year period. For example: real estate, cash, stocks and bonds..

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