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Accounting Standards Board |
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Accounting Standards BoardUK body that sets accounting standards. A subsidiary body of the Financial Reporting Council.Similar MatchesAccrual Accounting ConventionAccrual Accounting ConventionAn accounting system that tries to match the recognition of revenues earned with the expenses incurred in generating those revenues. It ignores the timing of the cash flows associated with revenues and expenses. Generally Accepted Accounting Principles (GAAP)Generally Accepted Accounting Principles (GAAP)The overall conventions, rules, and procedures that define accepted accounting practice at a particular time in the U.S. Average accounting returnAverage accounting returnThe average project earnings after taxes and depreciation divided by the average book value of the investment during its life. Accounting reference dateAccounting reference dateThe date to which accounts are made up for a company. When a company is incorporated, it will usually have an accounting reference date which is the last day of the month in which the anniversary of its incorporation falls. Directors can change the accounting reference date by filing an appropriate form with the Registrar of Companies. Replacement cost accountingReplacement cost accountingAn accounting method that includes as part of depreciation the difference between the original purchase price of an asset and the current ../../finance-glossary/ment cost. Further SuggestionsGrowth accountingAccounting insolvency Inflation accounting Statement of Financial Accounting Standards No 8 Cost accounting Purchase accounting Accounting earnings Regulatory accounting procedures (RAP) Financial Accounting Standards Board (FASB) current cost accounting Accounting liquidity Historical Cost Accounting Convention Statement of Financial Accounting Standards No 52 |
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