statements of standards accounting practice
1Statements of Standard Accounting Practice — (SSAP) In the UK, the Accounting Standards Board (ASB) issues accounting standards (a set of statements setting out standard accounting practice in relation to certain issues). Standards developed by the ASB are contained in Financial Reporting… …
2Statements of Standard Accounting Practice — /ˌsteɪtmənts əv ˌstændəd ə kaυntɪŋ ˌpræktɪs/ plural noun rules laid down by the Accounting Standards Board for the preparation of financial statements. Abbreviation SSAPs …
3Accounting Standards Board — (ASB) The accounting standards issuing body. The ASB issues accounting standards in the form of Financial Reporting Standards (FRSs) and has adopted those standards developed by its predecessors in the form of Statements of Standard Accounting… …
4Accounting 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… …
5Accounting Standards Committee — ASC A joint committee of the Consultative Committee of Accountancy Bodies set up in 1976 as a successor to the Accounting Standards Steering Committee. Membership of the ASC was part time and unpaid; because serious doubts concerning its… …
6Standard accounting practice — Publicly traded companies are required to follow certain accounting rules when presenting financial statements so that the readers of the statements can easily compare different companies. Private companies are also often required by banks and… …
7accounting standard — A definitive standard for financial accounting and reporting established in the form of a Statement of Standard Accounting Practice (SSAP) issued by the Accounting Standards Committee or, since 1990, a Financial Reporting Standard (FRS) issued by …
8Generally Accepted Accounting Principles (UK) — The Generally Accepted Accounting Practice in the UK, or UK GAAP, are the overall body of regulation establishing how company accounts must be prepared in the United Kingdom. This includes not only accounting standards, but also UK company… …
9Statements of Recommended Practice — (SORPs) Recommended accounting practices for specialised sectors. SORPs supplement accounting standards and other legal and regulatory requirements in the light of the special factors prevailing or transactions undertaken in a particular sector.… …
10applicable accounting standards — Under the Companies Act 1985, as amended by the Companies Act 1989, the accounts of all companies other than small or medium sized companies have to state whether they have been prepared in accordance with applicable accounting standards and… …
