GENERALLY ACCEPTED ACCOUNTING PRINCIPLES

Pronunciation (US):

(GB):

 Dictionary entry overview: What does generally accepted accounting principles mean? 

• GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (noun)
  The noun GENERALLY ACCEPTED ACCOUNTING PRINCIPLES has 1 sense:

1. a collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed procedures

  Familiarity information: GENERALLY ACCEPTED ACCOUNTING PRINCIPLES used as a noun is very rare.

 Dictionary entry details 

• GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (noun)

Sense 1

Meaning:

A collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed procedures

Classified under:

Nouns denoting groupings of people or objects

Synonyms:

GAAP; generally accepted accounting principles

Hypernyms ("generally accepted accounting principles" is a kind of...):

accumulation; aggregation; assemblage; collection (several things grouped together or considered as a whole)

Meronyms (members of "generally accepted accounting principles"):

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