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 research sample consisted of 237 accounting entities, 100% of licensed companies.
The package of amendments, particularly, stipulates transition of the accounting entities operating in the country to international accounting standards.
Accounting entities are a specific institution within the financial accounting paradigm and depend on the generic social institutions of ownership, property and property rights that underpin the very nature of business activity.
Instead, the government opted to unbundle the EAC into two separate accounting entities, one in charge of production and supply and the other in charge of transmission and distribution.
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. From its measurement depends not only economic efficiency and rentability of the provided performances, but also the overall achieved economic results in the presents the enterprise's financial statements.
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.
Similarly, periodic net income and its components only have relevance to specific accounting entities. For this reason, the entity concept is more fundamental than the concept of periodic net income.
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.
Accounting entities funding endowed chairs should see to it that the course material benefits the profession.