Accounting Entity

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Accounting Entity

Any organization with assets and liabilities maintained on a completely separate balance sheet from other organizations. The accounting entity does not need to be a legal entity in order to have a separate balance sheet. Very often, an accounting entity is a subsidiary or department within a larger company. See also: Special Purpose Vehicle, Combined Financial Statement.
References in periodicals archive ?
The town's accounting system is relatively simple and encompasses four governmental funds and two proprietary funds established as separate accounting entities within its accounting system.
A particularly serious flaw is its incapacity to adequately deal with the externalities created by 'accounting entities' and those aspects of the natural world that have not (yet) succumbed to the world of property rights, nor (treated as) accounting entities themselves.
Tangible fixed assets (TFA) comprise an important part of the assets and at the same time create the greatest part of the long-term assets in the vast majority of the production accounting entities.
The accounting system of the public sector accounting entities of above mentioned countries can be characterised as a gradual transformation from cash to accrual accounting basis.
The new general rules for organization of the accounting and financial reporting of the state and the state accounting entities that became effective from January 1, 2004 were already based on the accrual based IPSASs.
Nowadays, the new general rules for organization of the accounting and financial reporting of the state and the state accounting entities (riigi raamatupidamise uldeeskiri) that became effective from January 1, 2004 are in use as the Estonian equivalent to the IPSASs.
Furthermore, most UN agencies are separate accounting entities and control their own budgets, such as Food & Agriculture Organisation in Rome, UNESCO in Paris and the UN Development Programme in New York.
IMA is back in the news thanks to the newly formed "Speaking Out" committee, which has done a great job getting IMA's name back into the press and communicating IMA's positions to other accounting entities and regulatory bodies.
The endorsement of such a large and well-respected group of accounting entities is both an honor and a tremendous opportunity for NetLedger," said Bill Mirbach, president and chief executive officer of NetLedger, Inc.