| / English Dictionary |
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES
| Pronunciation (US): |  | (GB): | |
I. (noun)
Sense 1
Meaning:
A collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed procedures
Synonyms:
GAAP; generally accepted accounting principles
Classified under:
Nouns denoting groupings of people or objects
Hypernyms ("generally accepted accounting principles" is a kind of...):
accumulation; aggregation; assemblage; collection (several things grouped together or considered as a whole)
Meronyms (members of "generally accepted accounting principles"):
accounting principle; accounting standard (a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions)
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