Statement of Accounting Principles definition

Statement of Accounting Principles means _____________________________.
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Statement of Accounting Principles means the statement of accounting principles set forth on Appendix I attached hereto.
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Statement of Accounting Principles is defined in Section 1.5(a).
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Examples of Statement of Accounting Principles in a sentence

  • Discuss the contributions of the works by Sanders Hatfield and More, and Paton and Littleton to accounting theory.In 1938, the American Institute of Accountants (AIA) also published a monograph, A Statement of Accounting Principles, written by Thomas H.

  • Sanders, Hatfield, and Moore’s (1938) A Statement of Accounting Principles (SHM) was widely criticized for being too permissive and lacking the rigor of, for example, Hatfield’s (1927) textbook, Accounting: Its Principles and Problems.

  • As part of the Executive Committee of the AAA, Kohler, Paton, and Littleton wrote the 1936 “A Tentative Statement of Accounting Principles Underlying Corporate Financial Statements.” Perhaps the best-known example of the academic approach of the day is Paton and Littleton’s (1940) AAA Monograph An Introduction to Corporate Accounting Standards.

  • The Statutory Statement of Accounting Principles (SSAP) No. 85, promulgated by the NAIC, stipulates that an insurer is not entitled to classify expenditures as being cost containment expenses unless it can support the contention that claims would have been higher if those expenditures had not been made.

  • They had both written extensively in the accounting literature, almost always without coauthors.2 THE MONOGRAPH: INTRODUCTORY COMMENTSThe Paton and Littleton monograph owes its origin to the AAA executive committee’s five-page ‘‘A Tentative Statement of Accounting Principles Affecting Corporate Reports,’’ which was published in 1936.

  • Publication of a monograph entitled A Tentative Statement of Accounting Principles Affecting Corporate Reports contained two notable propositions which indicated the direction the profession would take on accounting measurement issues:1.

  • As a result of the combination of my analytical thinking and interpersonal and communication skills, my brief has been extended to lead the development of the strategic plan for the organisation.

  • Quoting Gonzalo Angulo (1989, in Vela Bargues, 1992, pp.103-104), he presents three main stages for the accounting conceptual frameworks development process: 2 See for example, American Accounting Association (1936); «A Tentative Statement of Accounting Principles Affecting Corporate Reports»; The Accounting Review; June, pp.187-191; in Dopuch and Sunder (1980).

  • In June 1936, the American Accounting Association published ‘A Tentative Statement of Accounting Principles Affecting Corporate Reports’.

  • NAIC Statutory Statement of Accounting Principles 101 requires an amount to be recorded for deferred taxes as a component of surplus; however, there are limitations as to the amount of deferred tax assets (“DTA”) that may be reported as admitted assets that are not applicable under GAAP.


More Definitions of Statement of Accounting Principles

Statement of Accounting Principles means the statement of accounting principles set out in Schedule 1.01D.
Sample 1
Statement of Accounting Principles has the meaning set forth in Section 1.04(a).
Sample 1

Related to Statement of Accounting Principles

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Generally Accepted Accounting Principles means the standards for accounting and preparation of financial statements established by the Federal Accounting Standards Advisory Board (or its successor agency) or any successor standards adopted pursuant to relevant SEC rule.

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Accounting Statement means for each financial year, the following statements, namely-

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • International Accounting Standards means International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations), subsequent amendments to those standards and related interpretations, and future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB);

  • U.S. GAAP means United States generally accepted accounting principles.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • Practice of public accounting means the performance or the offering to perform, by a person holding oneself out to the public as a certified public accountant or a licensed public accountant, one or more kinds of professional services involving the use of accounting, attest, or auditing skills, including the issuance of reports on financial statements, or of one or more kinds of management advisory, financial advisory, or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. However, with respect to licensed public accountants, the “practice of public accounting” shall not include attest or auditing services or the rendering of an opinion attesting to the reliability of any representation embracing financial information.

  • International Financial Reporting Standards means the accounting standards and interpretations adopted by the International Accounting Standards Board.

  • Australian Accounting Standards refers to the standards of that name, as amended from time to time, that are maintained by the Australian Accounting Standards Board referred to in section 227 of the Australian Securities and Investments Commission Act 2001 (Cth);

  • Generally accepted auditing standards means Canadian Generally Accepted Auditing Standards as adopted by the Canadian Institute of Chartered Accountants applicable as of the date on which such record is kept or required to be kept in accordance with such standards.

  • GAAP means United States generally accepted accounting principles.

  • Accounting Policies means GAAP, applied in a manner consistent with the accounting policies, principles, practices and methodologies used in the preparation of the Audited Balance Sheet.

  • IFRS means the International Financial Reporting Standards as issued by the International Accounting Standards Board.

  • audited when used in regard to financial statements shall mean an examination of the financial statements by a firm of independent certified public accountants in accordance with generally accepted auditing standards for the purpose of expressing an opinion thereon.

  • Financial Statement Date means December 31, 1999.

  • standards of generally recognised accounting practice means an accounting practice complying with standards applicable to municipalities or municipal entities as determined by the Accounting Standards Board

  • PRC GAAP means the generally accepted accounting principles in the PRC.

  • Financial Statements has the meaning set forth in Section 3.06.

  • Accounting Standard means GAAP.

  • Accounting Restatement means an accounting restatement that the Company is required to prepare due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.

  • Accounting Date means the thirtieth day of June in each year and any interim date on which the financial statements of the Trust are drawn up. Provided that the Management Company may, with the written consent of the Trustee and after obtaining approval from the Commission and the Commissioner of Income Tax may change such date to any other date and such change shall be intimated to the Commission.