## Section 2(13) – 'Books of Account'
'Books of Account' is an inclusive definition. It includes records maintained in respect of:
1. All sums of money received and expended by the company and the matters in relation to which the receipts and expenditure take place.
2. All sales and purchases of goods and services by the company.
3. The assets and liabilities of the company.
4. Items of cost as may be prescribed under Section 148 in case of a company that belongs to any class of companies specified under that section (i.e., Cost Records for companies covered under cost audit).
## Section 2(12) – 'Book and Paper' / 'Book or Paper'
This broader term includes:
- Books of Account
- Deeds
- Vouchers
- Writings
- Documents
- Minutes
- Registers maintained on paper or in electronic form
### Pedagogical Distinction
| 'Books of Account' [Sec. 2(13)] | 'Book and Paper' [Sec. 2(12)] |
|---|---|
| Narrower – relates to financial transactions | Wider – includes all records, registers, minutes |
| 4 specified categories | Open-ended, residuary |
| Forms the base for financial statements | Includes books of account + everything else |
Think of 'Books of Account' as a subset of 'Books and Papers'.