accounting standard


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Related to accounting standard: International Accounting Standard
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Noun1.accounting standard - a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactionsaccounting standard - a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions
principle - a rule or standard especially of good behavior; "a man of principle"; "he will not violate his principles"
GAAP, 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
References in periodicals archive ?
18 February 2013 -- US accounting standards authority The Financial Accounting Standards Board said it has issued a proposal to improve financial reporting by providing a comprehensive measurement framework for classifying and measuring financial instruments.
The new accounting standards are on Conceptual Framework for Financial Reporting by Islamic Financial Institutions and Investments in Sukuk, Shares and Similar Instruments while the new accounting guidance note is on First Time Adoption of AAOIFI Accounting Standards.
public companies for accounting standard setting activities as a permanent funding source for the IASB, Melancon said.
The Financial Accounting Standards Board (FASB) has added a project to its agenda to reconsider the current accounting standards for leases.
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.
In September 2003, the European Commission adopted a Regulation endorsing International Accounting Standards (IASs), including related interpretations (SICs), confirming the requirement for their compulsory use from 2005 under the terms of the general IAS Regulation adopted by the European Parliament and the Council in 2002.
* INTERNATIONAL STANDARDS MAY CHANGE to follow accounting standards in a particular country.
In August 2004, Tillinghast published results of a survey of North American life insurance company chief financial officers, which found that 81% of respondents expected the United States and Canada to join the EU on a single accounting standard within the next 10 years.
The Financial Accounting Standards Board has issued four exposure drafts that would improve U.S.
Statement of Financial Accounting Standard released after approval by a majority of FASB members.

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