Define: BOOKS OF ACCOUNTS

How is BOOKS OF ACCOUNTS defined in a legal contract?

• BOOKS OF ACCOUNTS means the records which are to be maintained at all times. These include financial documents and related records which the [organization] allows to be freely accessed upon reasonable notice. Seen in 10 SEC filings
• BOOKS OF ACCOUNTS means the records that include all financial information and transactions of the [organization]. This includes general ledger financial systems, sub-ledger systems, journals, and debits and credits. Seen in 2 SEC filings
• BOOKS OF ACCOUNTS means a record of income and expenditure that shows that a transaction has taken place. This term includes all other types of documents certifying a transaction and the financial statement as well. Seen in 1 SEC filing
• BOOKS OF ACCOUNTS means the records of accounts and related documents to be maintained by a member or customer. These records can be physically kept, stored in a computer, or in any other electronic form. Seen in 1 SEC filing
• BOOKS OF ACCOUNTS means the prescribed records containing all entries about monies received and paid. Seen in 1 SEC filing
• BOOKS OF ACCOUNTS means all books of primary entries and ledgers. This includes records of cash transactions, assets and liabilities, inventories, personal accounts, and university funds. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of books of accounts' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• BOOKS OF ACCOUNTS means comprehensive financial records that an organization maintains and permits access to during business hours.

Relevant Contract Type

• Non-Disclosure Agreement
• Asset Purchase Agreement
• Share Purchase Agreement
• Partnership Agreement

Relevant Circumstances

• When parties are entering into a business partnership
• During due diligence process in M&A transactions
• In confidentiality agreements when sensitive financial information is shared

Relevant Sectors

• Accounting
• Finance
• Commercial Real Estate

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Genie Definition 2

• BOOKS OF ACCOUNTS means prescribed records of all transactions, assets, and liabilities, held in various formats including digital.

Relevant Contract Type

• Service Level Agreement
• SaaS [Software as a Service] Agreement
• Information Technology Service Contract

Relevant Circumstances

• When an organization provides financial management services
• When defining obligations and liabilities in IT contracts

Relevant Sectors

• Information Technology
• Financial Services
• Asset Management

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