ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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NFP ACCOUNTING STANDARDS Definition
NFP ACCOUNTING STANDARDS are established by the Financial Accounting Standards Board (FASB) or the Government Accounting Standards Board (GASB). Additionally, the American Institute of Certified Public Accountants (AICPA) influences the accounting for nonprofit organizations with its industry and accounting guides and Statements of Position (SOPs).
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PERVASIVE is having the ability to permeate. An error is pervasive if it is material to more than one of the primary financial statements.
NET, in general, is the figure remaining after all relevant deductions have been made from the starting, or gross, amount.