ACCOUNTING PRINCIPLES BOARD (APB) OPINIONS Definition

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ACCOUNTING PRINCIPLES BOARD (APB) OPINIONS were published by the Accounting Principles Board (APB). The APB was created by American Institute of Certified Public Accountants (AICPA) in 1959; replaced by Financial Accounting Standards Board (FASB) in 1973. The APB mission was to develop an overall conceptual framework of US generally accepted accounting principles (US GAAP). APB was the main organization setting the US GAAP and its opinions are still an important part of it.

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SAME STORE SALES is used when analyzing the retail industry. It compares sales in stores which have been open for a year or more.

Dr is an ancient Italian abbreviation for the Italian word 'debare'; meaning 'debit' (not to be confused with the acronym DR with both letters in uppercase).

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