Generally accepted accounting principles: Difference between revisions
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== See also == | == See also == | ||
* [[Accounting standards]] | * [[Accounting standards]] | ||
* [[Corporate Reporting Council]] | |||
* [[Covenant]] | * [[Covenant]] | ||
* [[FASB]] | * [[FASB]] |
Revision as of 09:22, 3 April 2019
(GAAP).
The common set of accounting principles, standards and procedures.
They are a combination of:
- Law
- 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.