ONE SINGLE PAGE FOR ACCOUNTING RESEARCH TOPIC "INCOME TAX"

The New Meaning of Generally Accepted Accounting Principles Geary, K Michael . Ohio CPA Journal ; Columbus  Vol. 51, Iss. 4,  (Aug 1992): 30.

ProQuest document link

ABSTRACT  

Statement on Auditing Standards (SAS) 69 states that a generally accepted accounting principle (GAAP) is a

technical accounting term that encompasses the conventions, rules, and procedures necessary to define accepted

accounting practice at a particular time. SAS 69 defines a hierarchy of established accounting principles. Faced

with a decision concerning the acceptability of an accounting principle used by a client, the practitioner is

supposed to consult this hierarchy for the highest level of support. SAS 69 includes 2 separate but parallel

hierarchies - one for nongovernmental entities and one for state and local government entities. The issuance of

SAS 69 should provide sufficient reason for certified public accountants to reestablish their understanding of what

constitutes a GAAP and make sure that their professional libraries include the necessary technical materials. DETAILS

Subject: Statements on auditing standards; GAAP; Financial statements; Auditing standards;

Accounting policies; SAS 69

Location: US

Classification: 9190: US; 4130: Auditing

Publication title: Ohio CPA Journal; Columbus

Volume: 51

Issue: 4

Pages: 30

Number of pages: 2

Publication year: 1992

Publication date: Aug 1992

Publisher: Ohio Society of Certified Public Accountants

Place of publication: Columbus

Country of publication: United States, Columbus

LINKS Check for fulltext availability

Database copyright  2018 ProQuest LLC. All rights reserved. Terms and Conditions Contact ProQuest

Publication subject: Business And Economics--Accounting

ISSN: 07498284

Source type: Trade Journals

Language of publication: English

Document type: PERIODICAL

Accession number: 00639964, 00370267

ProQuest document ID: 214823622

Document URL: http://proxy.library.cpp.edu/login?url=https://search.proquest.com/docview/214823

622?accountid=10357

Copyright: Copyright Ohio Society of Certified Public Accountants Aug 1992

Last updated: 2014-05-24

Database: ABI/INFORM Collection