Accounting records会计档案.docxVIP

Accounting records?are all sources of information and evidence that are used in preparing, verifying and or auditing financial statements. Accounting records also includes documentation to prove ownership of assets creation of liabilities and evidence of monetary and non monetary transactions.Accounting records can take on many forms and include:Ledgers;Journals;Bank statements;Contracts and agreements;Verification statements;Transportation receipts;Invoices;Vouchers, etc.Accounting records can be in physical or electronic formats.In many countries the accounting bodies prescribes rules on dealing with accounting records from a presentation of financial statements and/or auditing perspective. The rules vary in different countries and different industries may have specific record-keeping requirements.Accounting records are important for all types of accounting including?financial accounting,?cost accounting?as well as for different types of organizations?corporations, partnerships, LLCs, and for not for profits or for profits.US[edit]In the US the IRS prescribes the duration for which the accounting records need to be maintained and provides records retention guidelines in Code Section 6001 and Publication 583. Some records such as CPA/auditors statements are considered permanent records while some such as accounts payables list or applications for employment may be kept for seven or three years respectively.BUSINESS RECORDS RETENTION SCHEDULEInternal Revenue Code Section 6001?Consistent record retention supports a paper trail for organization activities and serves as documentation for a financial or IRS audit.? The IRS offers record retention guidelines in Code Section 6001 and Publication 583 – Starting a Business and Keeping Records.?Heed the special retention requirements at the state level.? For example, the tax collecting agency may have special requirements of trade show contracts or the agency approving continuing education may require forms be kept for a spe