UK Accounting Glossary
Accounting methods which have been judged by business enterprises to be most appropriate to their circumstances and adopted by them for the purpose of preparing their financial statements.
Accounting policies are the specific principles and procedures implemented by a company’s management team and are used to prepare its financial statements. These include any methods, measurement systems and procedures for presenting disclosures.
Critics state that the new accounting policies will unnecessarily create scary, volatile numbers in the annual earnings report.
The latest move has greatly strengthened the regulatory force of accounting policies.
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This glossary post was last updated: 23rd December 2018.