Bacterial division is an inherently stochastic process with effects on fluctuations of protein concentration and phenotype variability. Current modeling tools for the stochastic short-term cell-size dynamics are scarce and mainly phenomenological. Here we present a general theoretical approach based on the Chapman-Kolmogorov equation incorporating continuous growth and division events as jump processes. This approach allows us to include different division strategies, noisy growth, and noisy cell splitting. Considering bacteria synchronized from their last division, we predict oscillations in both the central moments of the size distribution and its autocorrelation function. These oscillations, barely discussed in past studies, can arise as a consequence of the discrete time displacement invariance of the system with a period of one doubling time, and they do not disappear when including stochasticity on either division times or size heterogeneity on the starting population but only after inclusion of noise in either growth rate or septum position. This result illustrates the usefulness of having a solid mathematical description that explicitly incorporates the inherent stochasticity in various biological processes, both to understand the process in detail and to evaluate the effect of various sources of variability when creating simplified descriptions.