Accounting Entity

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 SAP wage engine will replace the current wage SLR4 engine SPF Finances and will take into account the gross-net calculation, all tax and social obligations, declarations and creating legal documents, provision of data to the accounting code Business in Fedcom / SAP accounting entity or not working in Fedcom, etc.
In accordance with the principal that financial statements present a true and fair view of the financial circumstances of an accounting entity, the costs of option schemes should be included as staff expenses for the purposes of recording profits.
Our scalable architecture has provided the high-speed performance necessary for an organization as large and distributed as the Defense Finance and Accounting Service (DFAS), the largest finance and accounting entity in the world," added Socher.
In one case the accounting entity is the enterprise or individual transaction.
Prior period adjustments to retained earnings arise from changes in accounting principles, a change in accounting entity or corrections of errors of prior periods.
Although it is relatively strictly regulated by legislative norms, it offer for accounting entity several possibilities of accounting presentation of economic transactions, i.
When a bid team from Charlotte-Mecklenburg Utilities won the competition for a five-year operation and maintenance contract for two treatment plants, contract monitoring required establishment of a separate accounting entity for financial and performance monitoring and internal auditing.
Changes in reporting entity are not frequent, but when a merger or subsidiary acquisition or sale takes place, the resulting business may no longer be the same accounting entity.
A business combination occurs when one or more companies are brought together into one accounting entity.