## Books of Accounts — Key Definitions

### 1. Books of Accounts [Section 2(13)]

'Books of Accounts' includes records maintained in respect of:

#	Item
(a)	All sums of money received and expended by the company, and matters in relation to which receipts/expenditure take place
(b)	All sales and purchases of goods and services
(c)	The assets and liabilities of the company
(d)	Items of cost as may be prescribed under Section 148 (Cost Records), if applicable

### 2. Books or Paper / Books and Paper [Section 2(12)]

Mnemonic: WARMDUV

Writing
Accounts (BOA)
Registers
Minutes
Deeds
Vouchers
Documents

(Includes Books and Papers — Writings, Accounts, Registers, Minutes, Deeds, Vouchers, and Documents.)

Worked example

### Example 1

Example: ABC Ltd maintains cash receipt records, sales registers, fixed asset register, and cost records (being a manufacturing company subject to Sec 148). Which of these are part of 'Books of Accounts'?

Answer: All four — they fall within the four limbs of Sec 2(13): money received/expended, sales & purchases, assets & liabilities, and cost records under Sec 148.

⚠️ Common exam mistakes

Confusing 'Books of Accounts' [Sec 2(13)] with 'Books and Papers' [Sec 2(12)] — the latter is wider and includes deeds, minutes, registers etc.
Forgetting that cost records under Sec 148 are part of BOA only if Sec 148 applies to the company.

Reference: Sections 2(12), 2(13) — Companies Act, 2013

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Books of Accounts — Important Definitions (Section 128)

Worked example

⚠️ Common exam mistakes