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Regarding definition of organisation in accounting

raushankumar (delhi) (5 Points)

11 November 2021

Sole proprietorship is an organisation

Here what is the definition of ORGANISATION

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yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 11 November 2021

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.

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 11 November 2021

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.

raushankumar (delhi) (5 Points)
Replied 11 November 2021

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

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 11 November 2021

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