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 ?
For example, with the entity theory approach, it is assumed that an accounting entity exists distinctly from owners and creditors and that segregation of the entity's obligations is not necessary (Canning, 1929).
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.
Measurement of accounting elements is one of the crucial factors in the process of preparing financial statements, which fairly present economic activity of an accounting entity. Elements of financial statements can be measured by various attributes, corresponding to the nature of an element and the purpose for which the element has been incurred by entity.
From the point of view of financial management are TFA in the long term connected with the performance of the accounting entity; they bind financial resources in the long term and influence the financial situation.
Within the context of a coalesced (or fused) proprietary-entity theory of the accounting entity, this paper leads to the unsurprising conclusion that the corporate income tax is an expense, albeit an expense with some remarkable characteristics.
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.
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.
* a balance sheet that summarizes the financial position of an accounting entity;