Corporations

Accounting Period
An accounting period is a standardized time frame for tracking and reporting a company's financial performance and tax obligations. Commonly used in financial statements, accounting periods are vital for consistency and comparison.
Big Business
Large corporations in the United States characterized by having assets totaling billions of dollars, playing a crucial role in the national and global economy.
Continuity of Life
Continuity of Life refers to the characteristic of a corporate structure where the organization continues its existence despite the death, incapacity, bankruptcy, retirement, resignation, or expulsion of its members.
Controlled Group
A Controlled Group is defined as two or more corporations whose stock is substantially held by five or fewer persons. Included in this category are brother-sister groups, parent-subsidiary groups, combined groups, and certain insurance companies. These corporations are subject to special rules for computing income tax, the alternative minimum tax (AMT) exemption, the accumulated earnings credit, and the environmental tax exemption.
Employer Identification Number (EIN)
An Employer Identification Number (EIN) is a unique Taxpayer Identification Number (TIN) assigned to entities other than individuals, such as partnerships, corporations, estates, and trusts. The EIN is used for the purpose of identifying businesses and certain other entities for tax reporting.
Firm
A firm is any business organization, ranging from individual proprietorships to large corporations, and it can also refer specifically to a business partnership.
Issuer
A legal entity that has the power to issue and distribute securities. Issuers include corporations, municipalities, foreign and domestic governments and their agencies, and investment trusts. They are responsible for corporate reporting, paying dividends, and servicing debt.
Person
An individual, trust, estate, partnership, association, company, or corporation having certain legal rights and responsibilities.
Stockholders
In the USA, individuals, businesses, and groups that own stocks in a corporation are known as stockholders. They hold a portion of the corporation's equity.
Syndication
Syndication is a method of selling property whereby a sponsor, or syndicator, sells interests to investors. It can take various forms including partnerships, limited partnerships, tenancy in common, corporations, limited liability companies, or S Corporations.
Taxpayer
A taxpayer is an individual or entity that is liable to pay taxes to a governmental authority, including but not limited to the Internal Revenue Service (IRS) in the United States.
Trust Share
A trust share signifies partial participation and ownership in a corporation's management. It entitles the holder to a portion of the profits.
Y.K. (Yugen-Kaisha)
Y.K. or Yugen-Kaisha is a Japanese business designation for a form of corporation similar to a limited liability company in other jurisdictions.

Accounting Terms Lexicon

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