statement of principles

statement of principles ˌstatement of ˈprinciples noun statements of principles PLURALFORM
1. [countable] a statement by an organization of the moral or political beliefs which the organization's actions will be based on:

• The statement of principles of the Federation was drawn up at the conference and signed by all the organizations present.

2. the Statement of Principles ACCOUNTING in the UK, a statement by the Accounting Standards Board, giving the ideas and rules that should be followed in accounting:

• The first chapter of the Statement of Principles defines fundamental terms such as asset, liability, and equity.

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statement of principles UK US noun [C] (plural statements of principles)
a statement in which a person or organization describes their beliefs and intentions: »

He will call for a 'statement of principles' which sets out which areas are controlled by the EU and which are handled by national governments.

»

We need a clear statement of principles, backed up by firm commitments.

(also Statement of Principles) (ABBREVIATION SOP) ACCOUNTING in the UK, an official set of rules published by the Accounting Standards Board for company accounts: »

Issue costs are not assets as defined in the Board's draft Statement of Principles.


Financial and business terms. 2012.

Look at other dictionaries:

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