APPLICABLE FINANCIAL REPORTING FRAMEWORK Definition

Bookmark and Share

APPLICABLE FINANCIAL REPORTING FRAMEWORK is the financial reporting framework adopted in the preparation of the financial statements that is acceptable in
view of the nature of the entity and the objective of the financial statements, or that is required by law or regulation.

Learn new Accounting Terms

BOTTOM LINE, in accounting/finance, is specifically net income after taxes. In general, it is an expression as to the end results of something, e.g. the net worth of a corporation on a balance sheet, sales generated from a marketing campaign, or final decision on most any subject (Often said: 'give me the bottom line').

PREVENTATIVE CONTROL is a control designed to avoid an unintended event.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.