Fourth Accounting Directive


Fourth Accounting Directive
An EU directive (1978) concerning the harmonization of company law and accounting practices in member states. It recognized five accounting concepts as fundamental: the accounting entity concept, the accruals concept, the consistency concept, the going-concern concept, and the prudence concept

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  • accounting concepts — accounting principles; fundamental accounting concepts The basic theoretical ideas devised to support the activity of accounting. As accounting developed largely from a practical base, it has been argued that it lacks a theoretical framework.… …   Big dictionary of business and management

  • directive — 1) A legislative decision by the European Union s Council of Ministers and Parliament, which is binding on member states but allows them to decide how to enact the required legislation. See Accounts Modernization Directive; Financial Services… …   Big dictionary of business and management

  • accounting concepts — accounting principles; = fundamental accounting concepts The basic theoretical ideas devised to support the activity of accounting. As accounting developed largely from a practical base, it has been argued that it lacks a theoretical framework.… …   Accounting dictionary

  • Fourth Directive — An EU directive (1978) concerning the harmonization of company law and accounting practices in member states. It recognized five accounting concepts as fundamental: the accounting entity concept, the accruals concept, the consistency concept, the …   Accounting dictionary

  • consistency concept — One of the four fundamental accounting concepts laid down in Statement of Standard Accounting Practice (SSAP) 2, Disclosure of Accounting Policies; it is also recognized in the Companies Act (1985) and the EU s Fourth Accounting Directive The… …   Big dictionary of business and management

  • going-concern concept — One of four fundamental accounting concepts recognized in Statement of Standard Accounting Practice (SSAP) 2, Disclosure of Accounting Policies; it is also referred to in the Companies Act (1985) and the EU s Fourth Accounting Directive It is the …   Big dictionary of business and management

  • prudence concept — The accounting concept that insists on a realistic view of business activity and stresses that anticipated revenues and profits have no place in a profit and loss account until they have been realized in the form of cash or other assets for which …   Big dictionary of business and management

  • accruals concept — One of the four fundamental accounting concepts laid down in Statement of Standard Accounting Practice (SSAP) 2, Disclosure of Accounting Policies; it is also recognized in the Companies Act (1985) and the EU s Fourth Accounting Directive It… …   Big dictionary of business and management

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  • Business and Industry Review — ▪ 1999 Introduction Overview        Annual Average Rates of Growth of Manufacturing Output, 1980 97, Table Pattern of Output, 1994 97, Table Index Numbers of Production, Employment, and Productivity in Manufacturing Industries, Table (For Annual… …   Universalium