ACCOUNTING ENTITY Definition

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ACCOUNTING ENTITY is an organization, institution or being that has its own existence for legal or tax purposes. An accounting entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, etc. See also ACCOUNTING ENTITY ASSUMPTION.

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TREND ANALYSIS is the analysis of changes over time through the use of analytical techniques, such as time series analysis, to discern trends.

PURE COST is any direct readily verifiable cost assignable to the subject or item, e.g., the direct cost of producing a product.

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