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Accounting




Power


The ability of an entity to direct the relevant activities of another entity by having existing rights in specific aspects of its operations/ activities (the financial and operating policies to start with). Differently stated, an entity has power over another entity when the former entity has existing rights that enable it to direct the relevant activities, i.e., the activities that substantially affect and determine the nature or amount of the economic benefits from its involvement with the latter.



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Accounting is the language of business, everywhere, worldwide. It is the means by which virtually every business communicates information about its operations, irrespective of size, scale, objectives, ...
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