Example Examples of commercial banks include HSBC and Bank of America Merill Lynch. A commercial bank is one primarily engaged in deposit and lending activities to private and corporate clients in wholesale and retail banking.Other services typically include bank and credit cards, private banking, custody and guarantees, cash management and settlement as well as trade finance.his process of asset transformation generates net income for the commercial bank. Note that many commercial banks do investment banking business although the latter is not considered the main business area.
Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events, which are, in part at least, of a financial character and interpreting the result thereof. According to the American Accounting Association [AAA]; Accounting refers to the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information. According to Weygandt, Kieso and Kimmel; Accounting is an information system that identifies records and communicates the economic events of an organization to interested users. In the light of the above discussion and definitions of Accounting, a comprehensive and meaningful definition of Accounting can be given as such;
SOFT CREDIT see ASSOCIATED CREDIT. ACCOUNTING ENTITY is an organization, institution or being that has its own existence for legal or tax purposes. An accounting entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, etc. See also ACCOUNTING ENTITY ASSUMPTION.