ACCOUNTING PRINCIPLE

Pronunciation (US):

(GB):

IPA (US):

 Dictionary entry overview: What does accounting principle mean? 

• ACCOUNTING PRINCIPLE (noun)
  The noun ACCOUNTING PRINCIPLE has 1 sense:

1. a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions

  Familiarity information: ACCOUNTING PRINCIPLE used as a noun is very rare.

 Dictionary entry details 

• ACCOUNTING PRINCIPLE (noun)

Sense 1

Meaning:

A principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions

Classified under:

Nouns denoting cognitive processes and contents

Synonyms:

accounting principle; accounting standard

Hypernyms ("accounting principle" is a kind of...):

principle (a rule or standard especially of good behavior)

Holonyms ("accounting principle" is a member of...):

GAAP; generally accepted accounting principles (a collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed procedures)