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Legal Terms - Bond Issue
Accounting records, often known as books of account, refer to the official documents that contain financial transactions and other relevant information for a business or organization. Financial records provide a comprehensive overview of a company's financial status at any given point and allow its directors to prepare its financial statements. The books (which are owned by registered companies)
According to the Companies Act 2006, it is necessary to regularly disclose the amounts received and spent, together with specific information about the transactions, assets, liabilities, and, if applicable, products sold and purchased. Public corporations are required to maintain their financial records for a period of six years, whereas private enterprises must do so for a period of three years. Company officers and auditors, excluding members, has a legal entitlement to see the books.
Accounting records, often known as books of account, refer to the official documents that contain financial transactions and other relevant information for a business or organization. Financial records provide a comprehensive overview of a company's financial status at any given point and allow its directors to prepare its financial statements. The books (which are owned by registered companies)
According to the Companies Act 2006, it is necessary to regularly disclose the amounts received and spent, together with specific information about the transactions, assets, liabilities, and, if applicable, products sold and purchased. Public corporations are required to maintain their financial records for a period of six years, whereas private enterprises must do so for a period of three years. Company officers and auditors, excluding members, has a legal entitlement to see the books.
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