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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DISCRETIONARY BUDGETING see DISCRETIONARY SPENDING.

BOND RATING is a measure of credit quality ranging from AAA to D by bond rating services such as Moody's, Standard & Poor's or Fitch's. Bonds rated BB+ or lower by Standard & Poor's or Ba1 or lower by Moody's are not investment grade.

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