accounting principle
1
3.9
- noun
- /əˈkaʊntɪŋ ˈprɪnsəpəl/
- Specialized
:
principio contable
- OK, what do they teach you about generally accepted accounting principles in Wharton?
- generally accepted accounting principles
- accepted accounting principles
- conformity with accounting principles
Examples
-
The new financial reporting standards will become the EU's version of the Generally Accepted Accounting Principles that are routinely used by U.S. companies for annual reports, audits, and other financial documents.
Academic text (2004) -
Finally, the euro provides an opportunity to investigate issues such as harmonization of accounting principles.
Academic text (1999) -
The NIPA exclusion is based on fundamental national income accounting principles.
Academic text (2016) -
An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
Academic text (1998) -
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of ASME International as of June 30, 2001, and the changes in its net assets and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.
Academic text (2001) -
A fundamental difference between traditional management accounting principles and those outlined in the Conceptual Design Document is that for the latter, external reporting objectives are basically irrelevant.
Academic text (1990) -
Also, as argued by Summers et al. (2000), audit services are standard-intensive and guided by established rules (generally accepted auditing standards and accounting principles).
Academic text (2001) -
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.
Academic text (1998) -
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.
Academic text (2002) -
Companies must report their earnings using accounting principles to ensure transparency and consistency.
Synonyms
410
3.4
A moral rule that guides what you think is right or wrong
2
3.8
A rule made by an official group that tells how to record money in company accounts
How Formal
- Specialized
2
3.8
- Specialized
1
3.9
344
3.1
553
2.5
Surface Forms
Morphology
The phrase directly combines 'accounting' (the activity of keeping and reporting financial records) with 'principle' (a foundational rule), so its meaning as a rule or guideline governing accounting practices is compositional and predictable. This noun+noun construction is cross-linguistically common and domain-specific but transparent, so a B1 learner who knows both constituents would readily infer the meaning.
Etymology
The term accounting principle comes from the simple idea of accounting as keeping money records and a principle as a 'basic rule', like the main beam that holds a house together. So an accounting principle is a rule that tells you how to record and report money today.