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:
“But Maine, perhaps, will soon be where Massachusetts is. A good part of her territory is already as bare and commonplace as much of our neighborhood, and her villages generally are not so well shaded as ours.”
—Henry David Thoreau (1817–1862)
“To the old saying that man built the house but woman made of it a “home” might be added the modern supplement that woman accepted cooking as a chore but man has made of it a recreation.”
—Emily Post (1873–1960)
“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)
“Know how to be content and you will never be disgraced; practice self-restraint and you will never be in danger.”
—Chinese proverb.
Laozi.