Accounting entity

This article does not cite any sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.
Find sources: "Accounting entity" – news · newspapers · books · scholar · JSTOR (September 2009) (Learn how and when to remove this message)

|

An Accounting Entity is simply an Entity for which accounting records are to be kept.

The main requirements for something to be considered an "accounting entity" are:

* It can own property the value of which can be measured in financial terms
* It can incur debts or liabilities which can also be measured in financial terms
* It can therefore be assigned a value for its net worth or solvency which is the difference between the two

Examples of accounting entities include corporations, clubs, trusts, partnerships and individuals.

## References

[edit]