Accounting records are the documentation used to prepare, verify, and audit the financial statements of a company. They provide a detailed account of all financial transactions, assets, liabilities, equity, revenues, and expenses.
A bank certificate is a document signed by a bank manager that certifies a company's account balance on a specified date. It is often requested during audits to verify a company's financial status.
An official notification to a borrower from a lender indicating that the borrower's loan application has been approved and stating the terms of the prospective loan.
Cost Records refer to documents that provide evidence of the prices at which investments were purchased or the costs incurred in producing goods, providing services, or supporting activities. These records are essential for calculating capital gains and substantiating financial performance.
A Direct Charge Voucher (DCV) is a financial document used in accounting to record direct expenses incurred by an organization, facilitating efficient and accurate tracking of specific chargeable items to appropriate accounts or projects.
A comprehensive document detailing the expenses incurred by a salesperson or executive, including categories such as transportation, lodging, meals, and client entertainment, typically submitted for employer reimbursement.
External documents refer to the documents needed for company recordkeeping that have been handled by external individuals or entities, such as vendor invoices and canceled checks. Auditors regard these documents as more reliable than internal documents due to their increased independence and verifiability.
Prime documents are the foundational elements used to initiate and record accounting entries in both accounting and management accounting systems. They include documents such as sales invoices, materials requisitions, materials returns notes, and direct charge vouchers.
A sales invoice is a document sent by the seller of goods or services to the buyer, detailing the amounts due, discounts available, payment dates, and such administrative details as account numbers and credit limits. It is a crucial component in business transactions and accounting.
A voucher serves as a receipt for money or any document that supports an entry in a book of account, acting as evidence for financial transactions.
The IRS W-9 form requires taxpayers to provide their Social Security number, employer identification number, or other identification to a payer, enabling the obligation of reporting interest, dividends, royalties, or other payments made to the taxpayer to the IRS.
