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Personal assets of the owner of a company will not appear on the company balance sheet bcoz of which principle? Cost Economic Entity Monetary Unit

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Question added by Gokul Menon , Accountant , Gulf Pipe Industries LLC
Date Posted: 2017/09/26
Hussein Hussein
by Hussein Hussein , CPA (Certified Public Accountant) , Sattar & Associates, CPA's

The employees of the company are not the assets of the company, are not owned by the company, the company use the specialized employees sevices according to their career and pay them for that in term of salaries, wages and bones plus other benefits that shown in Income Statements, the compay own employees services not themselves.

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

 

Economic Entity

Independence

Mufaro Jaricha
by Mufaro Jaricha , Senior Sales Advisor , Gulf Greetings LLC

it does not appear because of that separate legal entity rule.

Soliman Abd  ALmalak Gendy
by Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

Personal assets of the owner of a company will not appear in a balance sheet because of economic entity

Gokul Menon
by Gokul Menon , Accountant , Gulf Pipe Industries LLC

economic entity.................

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