R 432.11202 Accounting records.

Rule 1202. (1) A casino licensee shall maintain complete, accurate, legible, and permanent records of all transactions pertaining to its revenues and expenses, assets, liabilities, and equity in conformance with generally accepted accounting principles. The board may direct a casino licensee to alter the manner in which the records are maintained if the licensee's records are not in accordance with generally accepted accounting principles or if the records are not in sufficient detail. (2) The accounting records shall be maintained using a double entry system of accounting with transactions recorded on the accrual basis and supported by detailed subsidiary records. (3) The detailed subsidiary records shall include, at a minimum, all of the following: (a) Detailed general ledger accounts identifying all revenue, expenses, assets, liabilities, and equity for a casino licensee. (b) A record of all investments, advances, loans, and accounts receivable balances due the establishment. (c) A record of all loans and other accounts payable by a casino licensee. (d) A record of all accounts receivable written off as uncollectible by a casino licensee. (e) Journal entries prepared by a casino licensee. (f) Tax work papers used in preparation of any state or federal tax return. (g) Records that identify table drop, table win, and percentage of table win to table drop for each live game and records accumulated for each type of live game by shift or by another accounting period approved by the executive director. (h) Records that identify all of the following on a per day basis or other accounting period approved by the board: (i) EGD drop. (ii) EGD win. (iii) EGD win to EGD drop. (iv) Theoretical payout percentage of each EGD. (i) Records supporting the accumulation of the costs for complimentary services and items. A complimentary service or item provided to patrons in the normal course of a casino business shall be recorded at an amount based upon the full retail price normally charged for the service or item. (j) Records that identify the purchase, receipt, and destruction of gaming chips from all sources, including receipts from bill validators. (k) Records required to fully comply with all the federal financial record-keeping requirements enumerated in 31 CFR part 103. (l) Records required by a casino licensee's internal control system. (m) Work papers supporting the daily reconciliation of cash accountability. (n) Other records that the board requires to be maintained. (4) If a casino licensee fails to maintain the records used by it to calculate the gross revenues, then the board may compute and determine the amount upon the basis of an audit conducted by the board using available information.