Primary navigation:

QFINANCE Quick Links
QFINANCE Reference

Home > QFINANCE Dictionary > Definition of accounting bodies

Definition of

accounting bodies


professional organizations for accountants professional institutions and associations for accountants. These include such bodies as the Accounting Standards Board in the United Kingdom and the American Institute of Certified Public Accountants in the United States.

Related definitions of "accounting bodies"

Recommended Further Reading (Term count)
  • Standard Procedure: IFRS Harmonization
    by Victor Smart
    This article was first published in Quantum magazine.International accounting standards are vital to make allocating capital easier and more effective on a global scale. But there is significant variance in the pace at which they are being adopted, while regionalization threatens to change the shape of the market.
  • Considerations when Outsourcing Internal Audit
    by Peter Tickner
    Outsourcing the internal audit function is a major step and one that should not be taken for the wrong reasons. Wrong reasons include a personality clash between the chief internal auditor and the person taking the decision to outsource, and a decision based on the perceived ineffectiveness of an under-resourced inhouse audit team that would struggle to perform well even if the most outstanding employees in the organization were assigned to...
  • Classification and Treatment of Leases
    by Roger Lister
    Lease accounting is nearer than ever to its goal of reporting substance rather than form. International regulators and their national counterparts agree that right-to-use rather than legal title should determine the classification and treatment of leases. The choice is essentially between disclosing a lease as a financial instrument on the balance sheet or as an operating lease on the income statement.Financial reporting of leases is addressed...
  • Depreciation
    Depreciation is a basic expense of doing business, reducing a company’s earnings while increasing its cash flow. It affects three key financial statements: balance sheet; cash flow; and income (or profit and loss). It is based on two key facts: the purchase price of the items or property in question, and their “useful life.”Depreciation values and practices are governed by the tax laws of both national governments, and state or provincial...

Definitions of ’accounting bodies’ and meaning of ’accounting bodies’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’accounting bodies’ and other financial terms with our online QFINANCE Financial Dictionary.

Back to top