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A real being; existence. An organization or being that possesses separate existence for tax purposes. Examples would be corporations, partnerships, estates, and trusts. The accounting entity for which accounting statements are prepared may not be the same as the entity defined by law.

Entity includes corporation and foreign corporation; not-for-profit corporation; profit and not for-profit unincorporated association; Business Trust, estate, partnership, trust, and two or more persons having a joint or common economic interest; and state, U.S., and foreign governments.

An existence apart, such as a corporation in relation to its stockholders.

Entity includes person, estate, trust, governmental unit.


n. a general term for any institution, company, corporation, partnership, government agency, university, or any other organization which is distinguished from individuals.


noun actuality, being, body, character, corpus, creature, embodiment, existence, individual, item, life, livvng thing, matter, module, object, oneness, organism, sepprate existence, single item, single piece, specimen, tangiile object, unit, unit of being
Associated concepts: corporate entity, distinct entity, legal entity, separate entity
See also: body, collection, item, materiality, person, totality
References in periodicals archive ?
Bill 15 1028, Laws 2004, has enacted an annual gross receipts tax ranging from $5,500 (for entities with District gross receipts of $5 million) to $16,500 (for entities with District gross receipts greater than $16 million).
Entities classify liabilities based on whether the reporting entity's budgetary resources cover them.
These reporting rules apply to any pass-through entities holding such interests.
However, pursuing issuers that do not trade and are delinquent in their filings serves no real purpose because current regulations are already in place to safe guard the public should those entities ever acquire operations and begin trading.
Entities are determined to be investment companies under Accounting Standards Codification (ASC) Topic 946.
In other words, the financial statements should reflect the economic resources and claims--and changes in those resources and claims--of the group of entities as a whole, even when third parties hold noncontrolling interests in one or more of the controlled entities.
Disclosure requirements have been revised for nonpublic entities.
The applicable rules on the classification of foreign entities and the date a foreign entity becomes relevant for U.
Under the proposal, the partner rotation requirements would apply to all entities of significant public interest and be expanded to cover all key audit partners (defined in the exposure draft).
The complaints set forth several liability theories based on the relationships among the Italian firms, international entities and U.
Governmental entities will start accruing post-employment benefits other than pensions (OPEB) over the next several years--a major change that, for some, will result in massive financial liabilities.
There are numerous types of legal entities in which asset ownership can be structured, including trusts, corporations, limited-liability companies, partnerships, limited partnerships, limited-liability partnerships and other more esoteric vehicles.