BROUGHT FORWARD Definition

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BROUGHT FORWARD is the recognition of a value that was determined in the past, e.g. an accumulated balance brought forward at the start of a new accounting period.

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ECONOMIC ENTITY accounting concept that provides context or 'point of view' for the economic events (i.e., transactions) captured by the financial statements. In short, it answers the questions, 'Whose asset is it?'; 'Whose liability is it?'

CUMULATIVE EARNINGS is the sum of all earnings over the time periods in question.

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