ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ENTITY THEORY Definition
ENTITY THEORY is where a legal entity is regarded as having a separate existence from the owners. The financial statements are prepared from the perspective of the entity, not its owners. See PROPRIETARY THEORY.
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DIRECTORS REPORT is written by the Directors of a company and forms part of the companys financial statements. This report must support and elaborate on the information contained in the Income Statement, Balance Sheet and Source and Application of Funds Statement.
STATEMENT OF STOCKHOLDERS EQUITY is a summary of the changes in stockholders equity of a corporation that have occurred during a specific period of time.