Accounting Standards

Business, Legal & Accounting Glossary

Definition: Accounting Standards

Accounting Standards

Quick Summary of Accounting Standards

Definitive statements of best practice issued by a body having suitable authority.

What is the dictionary definition of Accounting Standards?

Dictionary Definition

Accounting Standards are a definitive standard for financial accounting and reporting, such as the Financial Reporting Standards issued by the Financial Reporting Council in the UK or the International Financial Reporting Standards issued by the International Accounting Standards Board (IASB). In the US, the issue of Statements of Financial Accounting Standards is the responsibility of the Financial Accounting Standards Board.

Standards set out rules and procedures related to the measurement, valuation and proper disclosure of accountancy transactions.

Synonyms For Accounting Standards

accounting rules, accounting standard, accounting method, financial reporting standard, financial reporting standards

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Accounting Standards. Payroll & Accounting Heaven Ltd.
August 17, 2022
Chicago Manual of Style (CMS):
Accounting Standards. Payroll & Accounting Heaven Ltd. (accessed: August 17, 2022).
American Psychological Association (APA):
Accounting Standards. Retrieved August 17, 2022
, from website:

Definition Sources

Definitions for Accounting Standards are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th January, 2020 | 0 Views.