generally accepted accounting principles

/ˈdʒɛnərəli əkˈsɛptɪd əˈkaʊntɪŋ ˈprɪnsəpəlz/ – Phrase

Definition: Nguyên tắc kế toán được chấp nhận phổ biến.

A more thorough explanation: a collection of guidelines (including rules, procedures and conventions) that define accepted accounting practice

Example: Financial statements are prepared in accordance with generally accepted accounting principles.