An economic event is an event that is consequential to a business entity, resultantly comprising transactions that are measurable in terms of monetary units. For example, sale of goods, purchase of materials, acquisition of plant and machinery.

What are the economic events in business?

A company must record in its accounting records any economic event that impacts the company’s finances. Examples of accounting events include such things as recording the depreciation of an asset, the payment of dividends to investors, the purchase of materials from a supplier, and the sale of goods to a customer.

What are economic impacts of events?

Economic impact is defined as the net economic change in a host com- munity, excluding non-market values, which results from spending attributable to the event. Often, these studies are not conducted impartially or objectively. Rather they are mischievously con- cocted as advocacy documents.