Meaning of the word "accounting principle" in English
What does "accounting principle" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
accounting principle
US /əˈkaʊntɪŋ ˈprɪnsəpəl/
UK /əˈkaʊntɪŋ ˈprɪnsəpəl/
Noun
1.
a rule or guideline that companies must follow when reporting financial data
Example:
•
Understanding the fundamental accounting principles is crucial for financial analysis.
•
The company adheres strictly to generally accepted accounting principles (GAAP).
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