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Dictionary by pitch.dog
Accounting policy, GAAP & adjustments · Core

Accounting policy

Also called: accounting treatment

ELI5

The specific principles, bases and practices applied in preparing financial statements.

Used in conversation

“Which version of accounting policy should the board treat as current?”

Pitch context

You will see “Accounting policy” in financial models, budgets, board packs and investor materials when the discussion reaches accounting policy, gaap & adjustments.

Why it matters: In accounting policy, gaap & adjustments, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

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Sources & evidence · 4

Direct term-level sources and supporting source families.