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accounting principle vs accounting standard

accounting standard vs accounting principle

accounting principle and accounting standard both are nouns.

Word NounAdjectiveVerbAdverb
accounting principle Yes No No No
accounting standard Yes No No No
As nouns, accounting principle and accounting standard are synonyms defined as:
  • accounting principle and accounting standard: a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions
accounting principle (noun) accounting standard (noun)
a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions
Difference between accounting principle and accounting standard

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