Accounting principles are in what form
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Substance over form is an accounting principle used "to ensure that financial statements give a complete, relevant, and accurate picture of transactions and events". ... In accounting for business transactions and other events, the measurement and reporting is for the economic impact of an event, instead of its legal form.
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GAAP attempts to standardize and regulate the definitions, assumptions, and methods used in accounting. There are a number of principles, but some of the most notable include the revenue recognition principle, matching principle, materiality principle, and consistency principle.
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