Incomplete records refers to a situation in which an organization is not using double-entry bookkeeping. Instead, it is using a more informal accounting system, such as a single-entry system, to maintain a reduced amount of information about its financial results. Under the single entry system, a firm maintains only cash account and the accounts of the debtors and the creditors properly. It does not maintain the accounts of expenses, incomes, assets, and liabilities properly. Hence, as the information provided by these records is incomplete, they are known as incomplete records. It is also feasible that the administrators of a firm, resolve to maintain a double-entry bookkeeping system, but the accounting records are incomplete. Incomplete records are found due to fraudulent behaviors, inadequate systems, loss during transitions of and changes in the company. Read the presentation for more materials on this topic.

Manju VP

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