Generally accepted accounting principles: Difference between revisions
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imported>Doug Williamson (Expand to incorporate alternative usage 'Practice' rather than 'Principles'. Source: ACT CertFin reading FMA 1.1.4 p20, 1 October 2013.) |
imported>Doug Williamson (Amended ASB to FRC for UK Accounting Standards) |
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The common set of accounting principles, standards and procedures. | The common set of accounting principles, standards and procedures. | ||
They are a combination of published authoritative standards (set by policy boards such as the FASB in the US and the | They are a combination of published authoritative standards (set by policy boards such as the FASB in the US and the FRC in the UK) and the accepted ways of doing accounting. | ||
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* [[Pensions Research Accountants Group]] | * [[Pensions Research Accountants Group]] | ||
* [[US GAAP]] | * [[US GAAP]] | ||
* [[FRC]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Revision as of 11:40, 13 January 2016
(GAAP).
The common set of accounting principles, standards and procedures.
They are a combination of published authoritative standards (set by policy boards such as the FASB in the US and the FRC in the UK) and the accepted ways of doing accounting.
Sometimes also known as Generally Accepted Accounting Practice.
