Books of Account

Books Of Account

What does Books Of Account mean in American Law?

The definition of Books Of Account in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

The singular, “book of account,” was often used synonymously with book of original entry. The plural, however, now refers loosely to all the books recording his transactions that a businessman might maintain.

Books of account in Law Enforcement

Main Entry: Law Enforcement in the Legal Dictionary. This section provides, in the context of Law Enforcement, a partial definition of books of account.

Resources

See Also

  • Law Enforcement Officer
  • Police Officer
  • Law Enforcement Agency

Further Reading

English Legal System: Books of Account

In the context of the English law, A Dictionary of Law provides the following legal concept of Books of Account : (books of account, accounting records)

Records that disclose and explain a company’s financial position at any time and enable its directors to prepare its *accounts. The books (which registered companies are required to keep by the Companies Act) should reveal, on a day-to-day basis, sums received and expended together with details of the transaction, assets and liabilities, and (where appropriate) goods sold and purchased. Public companies must preserve their books for six years, private companies for three years. Company officers and *auditors (but not members) have a statutory right to inspect the books.

accounting records

(books of account, accounting records)

Records that disclose and explain a company’s financial position at any time and enable its directors to prepare its *accounts. The books (which registered companies are required to keep by the Companies Act) should reveal, on a day-to-day basis, sums received and expended together with details of the transaction, assets and liabilities, and (where appropriate) goods sold and purchased. Public companies must preserve their books for six years, private companies for three years. Company officers and *auditors (but not members) have a statutory right to inspect the books.


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