fundamental accounting principles
- fundamental accounting principles
The basic assumptions which all companies must follow when preparing their accounts. When a set of accounts is prepared, it is assumed that these principles have been followed. The fundamental accounting principles are Going Concern, Accruals, Consistency, Prudence and No Netting Off. The first four are also known as fundamental accounting concepts. Dresdner Kleinwort Wasserstein financial glossary
Financial and business terms.
2012.
Look at other dictionaries:
fundamental accounting concepts/principles — The basic assumptions which all companies must follow when preparing their accounts. When a set of accounts is prepared, it is assumed that these principles have been followed. The fundamental accounting principles are Going Concern, Accruals,… … Financial and business terms
fundamental accounting concepts — The basic assumptions which all companies must follow when preparing their accounts. When a set of accounts is prepared, it is assumed that these principles have been followed. The fundamental accounting principles are Going Concern, Accruals,… … Financial and business terms
Generally Accepted Accounting Principles (United States) — In the U.S., generally accepted accounting principles, commonly abbreviated as US GAAP or simply GAAP, are accounting rules used to prepare, present, and report financial statements for a wide variety of entities, including publicly traded and… … Wikipedia
accounting concepts — accounting principles; = fundamental accounting concepts The basic theoretical ideas devised to support the activity of accounting. As accounting developed largely from a practical base, it has been argued that it lacks a theoretical framework.… … Accounting dictionary
accounting concepts — accounting principles; fundamental accounting concepts The basic theoretical ideas devised to support the activity of accounting. As accounting developed largely from a practical base, it has been argued that it lacks a theoretical framework.… … Big dictionary of business and management
Accounting reform — is an expansion to accounting rules that goes beyond the realm of financial measures for both individual economic entities and national economies. It is advocated by those who consider the focus of the present standards and practices wholly… … Wikipedia
accounting — /euh kown ting/, n. 1. the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.… … Universalium
Profit (accounting) — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
Fundamental Payroll Certification — The Fundamental Payroll Certification (FPC) is an exam based payroll certification designed specifically for (1) entry level payroll practitioners; (2) payroll, HR, and finance consultants; (3) sales, service, and technology professionals… … Wikipedia
Management accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia