accounting policies

The specific accounting bases adopted and consistently followed by an organization in the preparation of its financial statements. These bases will have been determined by the organization to be the most appropriate for presenting fairly its financial results and operations; they will concentrate on such specific topics as pension schemes, goodwill, research and development costs, and foreign exchange. Under Statement of Standard Accounting Practice 2 and its successor, Financial Reporting Standard 18, companies are required to disclose their accounting policies in their annual accounts

Accounting dictionary. 2014.

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  • Accounting Policies — The specific policies and procedures used by a company to prepare its financial statements. These include any methods, measurement systems and procedures for presenting disclosures. Accounting policies differ from accounting principles in that… …   Investment dictionary

  • accounting policies — The specific accounting bases adopted and consistently followed by an organization in the preparation of its financial statements These bases will have been determined by the organization to be the most appropriate for presenting fairly its… …   Big dictionary of business and management

  • accounting policies — apskaitos politika statusas T sritis Gynyba apibrėžtis Apskaitos principai, metodai ir taisyklės, skirti ūkio subjekto apskaitai tvarkyti ir finansinėms ataskaitoms sudaryti. atitikmenys: angl. accounting policies šaltinis NATO mokymų ir pratybų… …   Lithuanian dictionary (lietuvių žodynas)

  • 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 bases — The methods used for applying fundamental accounting concepts to financial transactions and items when preparing financial statements. The particular bases adopted by an organization will form its accounting policies …   Accounting dictionary

  • accounting manual — A document that gives details of a business s accounting policies and procedures; it often includes a list of account codes or a chart of accounts. An example of an accounting policy would be the way in which the company treats depreciation,… …   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 system — The system designed to record the accounting transactions and events of a business and account for them in a way that complies with its policies and procedures. The basic elements of the accounting system are concerned with collecting, recording …   Accounting dictionary

  • Accounting Practice — The routine manner in which the day to day financial activities of a business entity are gathered and recorded. A firm s accounting practice refers to the method by which its accounting policies are implemented and adhered to on a routine basis,… …   Investment dictionary

  • Accounting Changes And Error Correction — Requirements for the accounting for and reporting of a change in accounting principle, change in accounting estimate, change in reporting entity or the correction of a transaction. Accounting Changes and Error Correction is a pronouncement made… …   Investment dictionary

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