Although many of them challenge the very fundamentals of generally accepted accounting principles, they provide a valuable insight into the way true investors analyze their investment decisions.
Because the amortization of organization costs usually is immaterial in dollar amount, this convenient treatment is justified by the accounting principle of materiality.
Fifth, prudent accounting principles will be adopted, and a complete system for withdrawing and writing off bad debt reserve fund established.
For example, the determination of usual profit and general expenses under the provisions of Article 5 would be carried out utilizing information prepared in a manner consistent with generally accepted accounting principles of the country of importation.
After years of toil, auditing firms are still wrestling to reconcile America's rules-based GAAP (generally accepted accounting principles) with their international counterpart, IFRS (international financial reporting standards), which rely more on broad principles.
The generally accepted accounting principles (GAAP) require that a business use the accrual basis.
Jack E . Kiger, Stephen E . Loeb, Gordon S . May, Accounting Principle, Revised Printing, Random House 1998.