Generally Accepted Accounting Practice (UK)

Generally Accepted Accounting Practice (UK)

Generally Accepted Accounting Practice in the UK, or UK GAAP, is the overall body of regulation establishing how company accounts must be prepared in the United Kingdom. This includes not only accounting standards, but also UK company law.

Generally accepted accounting practice is a statutory term in the UK Taxes Acts. The abbreviation "UK GAAP" is also accepted as an abbreviation for the term used in other jurisdictions, Generally Accepted Accounting Principles, or Generally Accepted Accounting Policies.

Read more about Generally Accepted Accounting Practice (UK):  History, Process For Setting Standards, Legislation

Famous quotes containing the words generally, accepted, accounting and/or practice:

    “Humanity from the first has had its vultures and sharks, and representatives of the fraternity who prey upon mankind may be expected no less in America than elsewhere. That this virulence breaks out most readily and commonly against colored persons in this country, is due of course to the fact that they are, generally speaking, weak and can be imposed upon with impunity. Bullies are always cowards at heart ...”
    —Anna Julia Cooper (1859–1964)

    “The percept is the reality. It is not in propositional form. But the most immediate judgment concerning it is abstract. It is therefore essentially unlike the reality, although it must be accepted as true to that reality. Its truth consists in the fact that it is impossible to correct it, and in the fact that it only professes to consider one aspect of the percept.”
    —Charles Sanders Peirce (1839–1914)

    “At the crash of economic collapse of which the rumblings can already be heard, the sleeping soldiers of the proletariat will awake as at the fanfare of the Last Judgment and the corpses of the victims of the struggle will arise and demand an accounting from those who are loaded down with curses.”
    —Karl Liebknecht (1871–1919)

    “Nonwhite and working-class women, if they are ever to identify with the organized women’s movement, must see their own diverse experiences reflected in the practice and policy statements of these predominantly white middle-class groups.”
    —Kimberly Crenshaw (b. 1959)