accounting concepts

Definition

Concepts published in the Statement of Financial Accounting Concepts, which are used as the basis for development and modification of accepted accounting standards by the Financial Accounting Standards Board. As these standards affect valuation and reporting regulations, changes to them can affect valuations of companies and industries.

Use accounting concepts in a sentence

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
accounting changes and error correction Australian Accounting Standards Board (AASB)