Word | Noun | Adjective | Verb | Adverb |
---|---|---|---|---|
generally accepted accounting principles | Yes | No | No | No |
accounting standard | Yes | No | No | No |
generally accepted accounting principles (noun) | accounting standard (noun) |
---|---|
a collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed procedures | a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions |