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Definition of the noun accounting principle
What does accounting principle mean as a name of something?
- a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions
- lexical domain: Cognitive Processes - nouns denoting cognitive processes and contents
- synonym of accounting principle: accounting standard
- more generic word: principle = a rule or standard especially of good behavior
- member of: GAAP / generally accepted accounting principles = a collection of rules and procedures and conventions that define accepted accounting practice
Printed dictionaries and other books with definitions for Accounting Principle
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A Standard Reference Work for Business Men and Accountants, Profusely Illustrated with Many Special Forms, Tables and Diagrams Never Before Published
Accounting Principle 2. Purchasers and others will be far more ready to inspect as a rule actually proved costs of factory assets, as a basis of value, than estimated costs; and there is nothing so suspicious as estimates in such cases. The most ...
by John Owen Edward Clark
cost principle Accounting principle which requires that assets be recorded at acquisition or historical cost minus accumulated amortization.
A Dictionary of Accounting (2010)
by Jonathan Law
The accounting principle that the financial information provided by a company should (a) be of such a nature that it is capable of influencing the - decisions of users of that information, and (b) be provided in time to influence r those decisions.
by Lawrence M. Salinger
For example, the FASB may examine whether there are stark differences in how an issue is being handled and determine that the issue is of such importance that all users should be applying the accounting principle in a similar manner.
by Jae K. Shim, Joel G. Siegel, Marc H. Levine
However, no real effort was made to establish accounting principle uniformity at this conference. At the Tenth International Congress of Accountants, held in Sydney Australia (1972), two new organizations were established to deal more ...
by Linda E. Swayne, Mark Dodds
Historical cost is a generally accepted accounting principle requiring all financial statement items be based upon original cost. Historical cost means what it cost the company for the item; it is not fair market value. This means that if a company ...
by Richard Lamming, John Bessant
An accounting principle covered by both EEC and UK law (e.g. the British Companies Act 1985) which requires that all income and expenditure over a financial year shall be included in the accounts, irrespective of when it was received or ...
by Jonathan Law, John Smullen
understandability The accounting principle that the financial information provided by a company should be such that its significance is capable of being perceived by a person with a reasonable knowledge ofbusiness and accounting and a ...
by Edward L. Melnick, Brian S. Everitt
showed, however, that the independence axiom is not violated for risk judgments, but that the culprit is the so-called probability accounting principle (see ). These findings cast doubt on any perceived-risk models ...
by Jonathan Law
comparability The accounting principle that financial information for a company should be comparable with financial information for other similar companies. Comparability is one of the most ...
by K.C.S. Ranganayakulu
(Generally accepted accounting principle). Act of accounting principles to be followed in preparing accounting statements. GOODNAMES. Recognized names in which American and Canadian shares can be registered for delivery without ...
Online dictionaries and encyclopedias with entries for Accounting Principle
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