PERSONAL EQUITY Definition

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PERSONAL EQUITY is that portion of equity ownership that is held to ones own benefit or invested as an integral part of the assets of a legal entity.

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ACCOUNTING INCOME is the income derived through historical accrual based accounting. Income = the change in net assets occurring during the period excluding transactions with owners; i.e. transaction based.

MANAGEMENT BY EXCEPTION (MBE) is a management method by which only exceptional events are reported or acted upon. In this way management can focus only on those results or occurrences that deviate in some way from that what was expected.

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