Regarding definition of organisation in accounting

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Sole proprietorship is an organisation

 

Here what is the definition of ORGANISATION 

Replies (5)

Organisation can be derived indirectly through business entity concept in accounting. You can try Company acts to see if organisation is defined because they do this distinguishings.

Organization is the structural framework of duties and responsibilities required of personnel in performing various functions with a view to achieve business goals through organization. Management tries to combine various business activities to accomplish predetermined goals.

Dear sir

Can you please provide the definition of organisation for accounting purposes

I have made two definition like this

A.organisation/entity/enterprise

1.is an establishment

2.having specific name for identification 

3.run by an individual or group of indivisuals

4.having an objective to achieve

 

B.organisation/entity/enterprise 

1.is a group of indivisuals

2.having specific name for identification

3.common goal to achieve

 

I will go with A because cash is objective and profits are subjective. Also entity tries to enhance shareholder wealth maximisation. Common goal is inside the company, but company has an objective to run the business. an organized group of people with a particular purpose, such as a business or government department. Also, Organization refers to a collection of people, who are involved in pursuing defined objectives

First definition is appropriate


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