generally accepted accounting principles

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Noun1.generally accepted accounting principles - a collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed procedures
accounting principle, accounting standard - a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions
aggregation, collection, accumulation, assemblage - several things grouped together or considered as a whole
References in periodicals archive ?
But, Boer (2000) acknowledges that there is a change in management accounting practice, but is unsure what the change has been to.
Anthony (Tony) Lopez joins FTI's Financial Investigations and Forensic Accounting practice in the Forensic and Litigation Consulting segment and Andy Scruton joins FTI's Creditor Rights practice in the Corporate Finance segment.
Does Estimating Shrinkage Meet the Best Accounting Practice Requirement?
The private companies practice section (PCPS)--the AICPA alliance for CPA firms--and the Texas Society of CPAs launch their 2003 national management of an accounting practice (MAP) survey, which will ask firms to provide information on their performance, profitability, size and areas of specialization.
The decisions in Wal-Mart, TC Memo 1997-1, and Kroger, TC Memo 1997-2, concluded that each company's use of estimates of inventory shrinkage conformed to the best accounting practice in the trade or business and clearly reflected income.
CPA firms can choose from several excellent insurance-oriented client management systems that will easily integrate with the firm's accounting practice.
The argument is that peer review covers only the audit and accounting practice, which may encompass only a portion of a member firm's practice activities.
Since that time, the Hall's international board of electors has admitted 69 influential and respected accountants from academia, accounting practice, government and business.
FASB believes its proposal better reflects the economics of operating a nuclear power plant than does current accounting practice.
Nasdaq: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that it has launched its forensic accounting practice in Australia.
The IFAC also issued four other publications for its member organizations: an exposure draft, Implications for Management and Auditors of the Year 2000 Issue; a paper, An Advisory on Examination Administration; an international management accounting study, Environmental Management in Organizations: The Role of the Management Accountant; and a revised international management accounting practice statement.
To help practitioners, the Texas Society of CPAs sponsors the annual management of accounting practice survey, which is distributed to CPAs across the nation.