AICPAAmerican Institute of Certified Public AccountantsSECSecurities & Exchange CommissionFASBFinancial Accounting Standards Board
Principle that requires the assumption that the entity will remain in operation for the foreseeable future
Each entity is an organization that stands apart as a separate economic unit. We do this to not confuse the affairs with those of other entities.
Accounting guidelines, formulated by FASB, that govern how accountants measure, process, and communicate financial information