Examples of Good Accounting Practice in a sentence
Since 1989 both FAR and BEN have not issued new recommendations on Financial Reporting, but their old recommendations remain in force.The Accounting Act requires companies to follow 'God Redovisnings Sed' (GRS), Good Accounting Practice.
These guidelines are not laws but belong to the sphere of Good Accounting Practice.
The guidelines are, by their nature, interpretations of Good Accounting Practice in the relevant area.The guidelines start from the European Union Recommendation on accounting, estimating and giving information in the Financial Statements and Directors’ Report regarding environmental matters (2001/453/EU) the Official Publication 13.6.2001.The guidelines give references to IAS nos 1, 16, 36, 37 and 38.
The Estonian Good Accounting Practice lays them down: there is an option to elect one among two income statement schemes.
NOTES TO INTERIM FINANCIAL STA TEMENTS Accounting methods and valuation principles used in the consolidated interim report The Interim reports of 1-3/2003 have been prepared in accordance with the internationally recognised Good Accounting Practice and the Accounting Act of the Republic of Estonia which was in force until 01.01.2003.