The idea that a corporation should be considered to be an individual entity separate from the individuals who make up the corporation, or those who finance it. The business entity concept introduces a separation between the responsibilities of companies and those of affiliated individuals, and also provides continuity beyond the involvement of any one affiliate.
Related information about business entity concept:
- Entity concept - Wikipedia, the free encyclopedia
This concept is called business entity concept. In accounting, the separate entity concept treats a business as distinct and separate from its owners.
- What is business entity concept? definition and meaning
Definition of business entity concept: That the accounting records reflect the financial activities of a specific corporate entity, separate and distinct from the people ...
- Business Entity Concept - Accounting-Simplified
Financial accounting is based on the business entity concept which means that the transactions and balances of a business entity are to be accounted for ...
- What is the business entity concept? - Questions & Answers ...
Nov 5, 2011 ... The business entity concept states that you must separately record the transactions associated with a business from those of its owners or other ...
- Accounting principles: Business entity concept
Jun 3, 2011 ... One of the fundamental concepts of accounting is that the activity of a business is separate from the personal activities of the owner(s) and ...
- What is business entity concept? | PakAccountants.com | Free ...
Mar 26, 2011 ... i-ask! | Have a question? Ask Tutor! What is meant by economic entity? What is the meaning of separate entity? What is separate economic ...
- business entity concept noun - definition in Business English ...
business entity concept noun - definition, audio pronunciation and more for business entity concept noun: the idea that in accounting (= the work of preparing ...
- 1176. Accounting Entity or Business Entity concept - YouTube
May 12, 2012 ... 1176. Accounting Entity or Business Entity concept. arinjayjain1979. Subscribe Subscribed Unsubscribe. Loading icon Loading... 1,720 videos ...