Broad guidelines and detailed practices that together make up accepted accounting practice at a given time are referred to as

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GAAP (Generally Accepted Accounting Principles) is a set of broad guidelines and detailed practices that make up accepted accounting practice at a given time. GAAS (Generally Accepted Auditing Standards) are standards for conducting audits, and while they are related to GAAP, they are not the same thing. Accounting conventions and Revenue Canada regulations may be related to accounting practices, but they do not encompass all of GAAP.

Broad Guidelines and Detailed Practices That Together Make Up Accepted