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 ?
Effective January 1, 2018, the Company adopted the new revenue recognition standard, Accounting Standards Update 2014-09.
The jostling about accounting standards for private companies continued last month as the Financial Accounting Foundation (FAF), the overseer of U.
In April 200l, the International Accounting Standards Board (IASB), an independent accounting standard-setter based in London, assumed accounting standard-setting responsibilities from its predecessor body, the International Accounting Standards Committee.
As he begins his second five-year term as Chairman of the International Accounting Standards Board (IASB), Sir David Tweedie spoke about his first term and his expectations going forward.
Contract Pricing and Cost Accounting Standards (DFARS Case 2003-D014)
Financial reports produced by companies domiciled in various countries contain financial statements based on very different accounting standards.
Another helpful resource is the National Fiduciary Accounting Standards, a 1984 report by the Committee on National Fiduciary Accounting Standards.
As my colleagues at the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) will agree, fair value accounting poses many challenges and has sparked significant industry debate.
Publicly traded companies in the European Union are bracing for the implementation of the International Financial Reporting Standard--set to replace the various country-based accounting standards among the EU member states on Jan.
During their June meeting in Toronto, Ontario, the Toronto Valuation Accord organizations reaffirmed their commitment to support ongoing changes in financial reporting standards in North America and the international harmonization of accounting standards.
In response to requests from investors and many other parties to improve the current accounting standards relating to employee stock compensation in financial statements, the Financial Accounting Standards Board has published an exposure draft, Share-Based Payment, an Amendment of FASB Statements No.
New accounting standards released last summer by the Financial Accounting Standards Board (FASB) are significantly changing the way not-for-profit organizations account for charitable contributions.

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