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:
“It’s the generally accepted privilege of theologians to stretch the heavens, that is the Scriptures, like tanners with a hide.”
—Desiderius Erasmus (c. 1466–1536)
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“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.”
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“I am out of practice at living.
You are as brave as a motorcycle.”
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