The Fact of Economic Life as an Object of Accounting of an Economic Entity

Abstract

The analysis of the category "fact of economic life" in accordance with the legislation on accounting in the Russian Federation has been carried out, the elemental decomposition of this category has been carried out, each of the selected elements has been analyzed, and substantiating conclusions have been formulated. As a result of the work the author's definition of the fact of economic life has been formulated and proposed, which, according to the authors, most fully reflects the essence of the category "fact of economic life".