Meaning of Source Documents - SS1 Accounting Past Questions and Answers - page 1

Source documents provide information such as the date, amount, and description of a transaction, as well as the names of the parties involved. This information can be used to support financial statements by providing evidence of the transactions recorded in those statements.

Source documents provide a verifiable and reliable record of transactions and events, which can be used to support the accuracy of accounting records. This makes the auditing process easier and more efficient, as auditors can rely on the information contained in the source documents to verify the accuracy of the accounting records.