accounting principles
51Accounting Change — A change in accounting principles, accounting estimates, or the reporting entity. A change in an accounting principle is a change in a method used, such as using a different depreciation method or switching from LIFO to FIFO. An example of an… …
52Accounting Earnings — The amount of money a company has earned during a given period, usually a quarter or year, as reported based on proper accounting standards. Accounting earnings help to measure a company s profitability, but investors should consider not just… …
53Accounting Error — An error in an accounting item that was not caused intentionally. An accounting error can include discrepancies in dollar figures, or might be an error in using accounting policy incorrectly (i.e., a compliance error). Accounting error should not …
54Accounting Noise — The distortion that is caused in a company’s financial statements due to accounting rules and regulations that must be followed. Accounting noise makes it difficult for investors to easily ascertain a company’s true financial… …
55Accounting Information System - AIS — The collection, storage and processing of financial and accounting data that is used by decision makers. An accounting information system is generally a computer based method for tracking accounting activity in conjunction with information… …
56Accounting Convention — Guidelines that arise from the practical application of accounting principles. An accounting convention is not a legally binding practice; rather, it is a generally accepted convention based on customs, and is designed to help accountants… …
57Accounting Standards — Statements issued by the Accounting Standards Board, requiring the adoption of certain accounting principles and methods when preparing accounts in the UK. There are currently two forms of Accounting Standards in the UK Financial Reporting… …
58accounting profit — The amount of profit calculated by using generally accepted accounting principles instead of tax rules. At its simplest the profit is the revenue for an accounting period less the expenses incurred, using the concept of accrual accounting. There… …
59accounting standard — Rules and guidance on accounting practice. Along with legislation and custom, accounting standards are the foundation of *Generally Accepted Accounting Principles. In recent years, the term accounting standard has been largely superseded by… …
60Accounting Profit — A company s total earnings, calculated according to Generally Accepted Accounting Principles (GAAP), and includes the explicit costs of doing business, such as depreciation, interest and taxes. Accounting profits tend to be higher than economic… …
