AUTHORIZE / AUTHORIZATION is to give permission for. For example, a manager authorizes a transaction by signing a voucher authorizing the disbursement.
EQUITY ACCOUNTING is the practice of showing in a companys accounts the share of undistributed profits of another company in which it holds equity ownership (usually below 50%). The share of profit shown is usually equal to its share of the equity in the other company. The profit may not actually be paid over, but the equity holding company has a right to this share of the undistributed profit.
TAX is a charge against a legal entitys person or property or activity for the support of government, e.g. income taxes, sales taxes, duties and levies.
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