BNET Business Dictionary
Business Definition for: Accounting Principles
- the rules that apply to accounting practices and provide guidelines for dealing appropriately with complex transactions
Additional Resources
- FASB Issues Statement No. 162, The Hierarchy of Generally Accepted Accounting Principles
- NORWALK, Conn. -- The Financial Accounting Standards Board FASB today issued FASB Statement No. 162, The Hierarchy of Generally Accepted Accounting Principles. The new standard is intended to improve financial reporting by identifying a consistent framework, or hierarchy, for selecting accounting principles to be used in preparing financial statements that...
- Research articles 2008-05-09
- Generally Accepted Accounting Principles
- GENERALLY ACCEPTED ACCOUNTING PRINCIPLESMost individuals who understand the basics of financial reporting are familiar with the phrase generally accepted accounting principles GAAP and will readily identify the Financial Accounting Standards Board FASB as the standard-setting body in the United States responsible for establishing accounting principles for nongovernmental entities....
- Research articles 1999-01-01
- AEGON N.V. - Change in accounting principles.
- The Hague, July 24, 2007 AEGON changes accounting principles relating to guarantees in the Netherlands Starting with the second quarter of 2007, AEGON will change the accounting principles it uses to value guarantees on certain products in the Netherlands. This change will...
- Research articles 2007-07-24
- New CICA Section 1100, Generally Accepted Accounting Principles
- This article is about Generally Accepted Accounting Principles, which has been issued, effective for years beginning on or after October 1, 2003. The new Section establishes standards for financial reporting in accordance with generally accepted accounting principles GAAP. It clarifies the relative authority of various accounting pronouncements and other sources...
- White papers 2003-08-18
- Goodbye to GAAP?: Probably not. But Enron's collapse makes changes in financial regulation likely. (Accounting).(generally accepted accounting principles)(Brief Article)
- IN THE WAKE OF ENRON CORP'S FINANCIAL collapse, U.S. generally accepted accounting principles GAAP, like the energy trading company's executives and auditors, are under intense scrutiny. IN THE WAKE OF ENRON CORP'S FINANCIAL collapse, U.S. generally accepted accounting principles GAAP, like the energy trading...
- Research articles 2002-03-01
- Codification proposal prepared. (National Association of Insurance Commissioners' codification of statutory accounting principles project)
- Insurers are pressing to get ready an appendix which they will present to regulators later this month as an alternative to referencing model laws in the codification of statutory accounting principles project currently being developed by the Nationa Insurers are pressing to get ready an...
- Research articles 1997-08-04
- Agents await approval of GAAP model. (generally accepted accounting principles)
- Independent agents have hurdled yet another barrier blocking implementation of generally accepted accounting principles GAAP for producers. Earlier this month, the Insurance Companies Committee of the New York-based American Institute of Certifi Independent agents have hurdled yet another barrier blocking implementation of...
- Research articles 1993-03-29
- Toolmaker Danaher Corp. (Company News).(says it complies with accepted accounting principles)(Brief Article)
- Toolmaker Danaher Corp. (NYSE:DHR) said it complies with accepted accounting principles. The statement was issued in response to market rumors triggered by an article on financial Web site TheStreet.com. The article questioned the quality of earnin Toolmaker Danaher Corp. (NYSE:DHR) said it complies with...
- Research articles 2002-12-01
- Agents continue to battle over GAAP. (generally accepted accounting principles for insurance agents)
- Insurance agents are continuing to hammer away at the American Institute for Certified Public Accountants and its draft exposure on accounting principles for producers. Producer representatives fired off letters last week in anticipation of an AIC Insurance agents are continuing to hammer away...
- Research articles 1992-06-29
- Codification 'common ground' sought. (Codification of Statutory Accounting Principles)
- It may be possible to complete the Codification of Statutory Accounting Principles project to the satisfaction of both regulators and the insurance industry. Regulators had developed a document requiring disclosure in financial statements. However, a small portion of the industry are opposed to the disclosure document and they question the...
- Research articles 1998-02-02
- AEGON Changes Accounting Principles Relating to Guarantees in the Netherlands.
- THE HAGUE, The Netherlands, July 24 /PRNewswire/ -- Starting with the second quarter of 2007, AEGON (NYSE: AEG , LSE: AGN) will change the accounting principles it uses to value guarantees on certain products in the Netherlands. This change will ensure AEGON's...
- Research articles 2007-07-24
- Closing the GAAP? (Generally Accepted Accounting Principles)
- 00-00-0000 Sharp differences in national accounting standards are creating financial- market problems for global companies. Is relief on the way? BEFORE DAIMLER-BENZ AG COULD BECOME the first German company to register with the New York Stock Exchange in 1993, the company's accountants, attorneys,...
- Research articles 1997-11-03
- Use of GAAP in computing earnings and profits of foreign corporations - generally accepted accounting principles - Tax Executives Institute International Tax Committee
- On February 9, 1995, Tax Executives Institute submitted the following comments to Joseph H. Guttentag, the Department of the Treasury's International Tax Counsel, concerning proposed regulations under sections 952 and 964 of the Code, relating to the use of generally accepted accounting principles in computing earnings and profits of foreign...
- Research articles 1995-03-01
- Codification parties regrouping.(Codification of Statutory Accounting Principles project)
- Both industry officials and regulators are catching their breath and reexamining their positions prior to further discussion of the Codification of Statutory Accounting Principles project at the winter meeting of the National Association of Insurance Commissioners, which starts the end of this week in Seattle. ...
- Research articles 1997-12-01
- Understanding Research and Development Accounting
- There's more than one way to account for Research and Development (R&D). A business using the accrual method of accounting will treat R&D costs as expenses. A business contracted to undertake R&D for another company might treat it as an operational cost. If that business retains an element of financial...
- Articles 2007-10-02
- "Mark to Market" Accounting: Amend It, Don't Suspend It
- Criticized for worsening the financial crisis, "mark to market" accounting needs to be amended but not suspended, panelists said at an SEC roundtable discussion today. "Breaking or tweaking the thermometer while the doctor is examining the patient isn't going to save him but we need to set...
- Blog posts 2008-10-29
- changing landscape of accounting standards setting, The
- A growing set of standards Accounting standards setting has evolved over the past 30 years. In 1972, the Financial Accounting Standards Board FASB replaced the Accounting Principles Board APB as the primary private organization responsible for establishing accounting principles in conformity with generally accepted accounting principles GAAP. The...
- Research articles 2003-11-01
- Financial Statements And Accounting Concepts/Principles
- Present in this paper are the important components to be incorporated in a Financial Statement—Balance Sheet, Income Statement, Statement of Retained Earnings and Statement of Cash Flows. The paper briefly describes the components that should be present in each of the accounting concept. The paper also talks about accounting concepts...
- Presentations 2003-01-01
- Financial Accounting and Reporting
- The article is about the basic concept that include overall area of financial as well as managerial accounting. It explains from the core concept of accounting definition. The purpose of financial accounting and reporting by state and local governmental entities is to accumulate and provide information to facilitate decision making...
- White papers 2003-01-01
- PwC U.S. Chairman calls for balance between rules and principles.(PricewaterhouseCoopers)(accounting principles)
- Dennis Nally, on behalf of his firm, PricewaterhouseCoopers, wants to get the issue of principles-based accounting versus rules-based "out front and into the dialogue" of today's preparers, standard-setters, regulators and users of financia Dennis Nally, on behalf of his firm, PricewaterhouseCoopers, wants to get the...
- Research articles 2006-03-01
