Скачать или смотреть Lecture 5 - What is Economic Entity Principle in Accounting?

The economic entity principle states that the recorded activities of a business entity should be kept separate from the recorded activities of its owners and any other business entities. This means that you must maintain separate accounting records and bank accounts for each entity and not intermix them with the assets and liabilities of its owners or business partners. Also, you must specifically associate every business transaction with an entity. #accounting #finance #financialfreedom #financialeducation #financialliteracy #financialratios #financialplanning #budget #budgeting #financeandaccounting #auditing #auditingstandards #cpa #accountingpractice #accountingtips #accountant #taxation #accountingprofessionals #financialsuccess #stockmarket #nasdaq #financialanalysis #university