generally accepted accounting principles

(redirected from Accounting Concept)
Also found in: Dictionary, Legal, Financial.
Graphic Thesaurus  🔍
Display ON
Animation ON
  • noun

Synonyms for generally accepted accounting principles

a collection of rules and procedures and conventions that define accepted accounting practice

References in periodicals archive ?
for personal-income receipts on assets), we arrive at the accounting concept designated personal income (PI), which, because the foregoing deductions and additions have been almost offsetting, has been approximately the same magnitude as NI in recent years.
Because of the high level of detail (fineness) of the taxonomy, a precise understanding of a company's accounting concepts and of the U.
The competency can be measure with how management accountant mastering and implementing accounting concept (The Indonesian Institute of Accountants-IAI, 2008).
The Roundtable's comment makes clear that the accounting concept of reliability would be violated through use of any known options-pricing model.
Similar to profit, the book value of a company is little more than an accounting concept that does not reflect actual equity values.
Forcing companies to value these assets at a given point in time to some extent voids the basic accounting concept of the going concern, a violation that itself is an argument against any departures from historical cost.
The accounting concept of net income is designed to disclose the net reward to the farm owner-operator for his resources of land, labour, capital and management employed in the enterprise.
These measures reflect the national economic accounting concept of "income from current production.
Based on the annual accounting concept, the IRS ruled that if, for Federal income tax purposes, the rescission of the sale occurred before the end of the taxpayer's year in which the sale occurs, it would be treated as never having occurred.
My favorite management accounting concept is Continuous Improvement, and it has been my mantra in my professional career.
In essence, every accounting concept and principle which financial reporting rests upon will be reexamined and either reaffirmed, revised, or discarded.
The carp/back cases were distinguishable; they rested on the annual accounting concept and stood for the proposition that a taxpayer may not reduce or eliminate a penalty by reason of events occurring in a later tax period.
The completed contract method of accounting for income for long-term contracts is an exception to the annual accounting concept generally governing income recognition under the federal tax laws.
The IRS] invites the Court to focus on the accounting concept of materiality and conclude that E&Y was able to render an unqualified opinion even though [the taxpayers'] estimates of inventory shrinkage were improper.
The importance of cash flow information to financial statement users is acknowledged in Statement of Financial Accounting Concept Statement No.
Full browser ?