Company

Status: This was the departmental standard from July 15, 1998 to February 20, 2018.

Definition

Company refers to the level at which operating profit can be measured. The company, as a statistical unit, is defined as the organisational unit for which income and expenditure accounts and balance sheets are maintained from which operating profit and the rate of return on capital can be derived.

Relation to previous version

• Company February 21, 2018 to current

  This standard replaces the previous standard for company. The previous standard did not situate the definition of company in the Business Register hierarchy. This has been changed. The current standard situates company in relation to the entity above it, the Enterprise. Additionally, the previous standard used terminology that was not in line with either that of national accounting or financial accounting concepts. The current standard has been updated with terminology about the information collected from units to be in line with financial accounting terminology.

• Company July 15, 1998 to February 20, 2018

  This was the departmental standard from July 15, 1998 to February 20, 2018.