These are some of the commonly used acronyms and abbreviations in the accounting profession. They are arranged in alphabetical order.
A
AAA - Accumulated Adjustments Account
AAA - American Accounting Association
AAA - Association of Accounting Administrators
AAA - Authentication Authorization Accounting
AAA CPA - American Association of Attorney - Certified Public Accountants
AAAA - Asian Academic Accounting Association
AAOIFI – Accounting and Auditing Organization of Islamic Financial Institutions (Bahrain)
AARF – Australian Accounting Research Foundation
AAS – Australian Accounting Standards
AASB – Australian Accounting Standards Board
AASOC – Auditing and Assurance Oversight Council (Canada)
ABB – Activity Based Budgeting
ABC – Activity Based Costing
ABI – Association of British Insurers (United Kingdom)
ACCA – Association of Chartered Certified Accountants (United Kingdom)
ACEVO – Association of Chief Executives of Voluntary Organizations
ACGA – Asian Corporate Governance Association (ACGA)
AcSB – Accounting Standards Board in Canada
AcSOC – Accounting Standards Oversight Council (Canada)
ACT – Association of Corporate Treasurers (United Kingdom)
ADR – American Depository Receipts
AFAANZ – Accounting and Finance Association of Australia and New Zealand
AGM – Annual General Meeting
AIA – Association of International Accountants (United Kingdom)
AIBD – Association of International Bond Dealers
AICPA – American Institute of Certified Public Accountants
AIDB – Accountancy Investigation and Disciplinary Board (United Kingdom)
AIU – Audit Inspection Unit (United Kingdom)
AMEX – American Stock Exchange
AMPS – Auction Market Preferred Stock
APB – Accounting Principles Board (United States)
APB – Auditing Practices Board (United Kingdom)
APC – Auditing Practices Committee (United Kingdom)
APEC – Asia-Pacific Economic Cooperation
APR – Annualized Percentage Rate
ARC – Accounting Regulatory Committee (European Union)
ARDF – Accounting Research and Development Foundation (Taiwan)
ARR – Accounting Rate of Return, Average Rate of Return
ASB – Accounting Standards Board (New Zealand, United Kingdom)
ASB – Auditing Standards Board (United States)
ASBJ – Accounting Standards Board of Japan
ASC – Accounting Standards Committee (United Kingdom)
ASCA – Arab Society of Certified Accountants
ASCPA – Australian Society of Certified Public Accountants
ASCS – American Society of Corporate Secretaries
ASSC – Accounting Standards Steering Committee (United Kingdom)
B
BAC – Business Accounting Council (Japan)
BAHA – British Association of Hospitality Accountants
C
CAPA – Confederation of Asia and Pacific Accountants
CAPM – Capital Asset Pricing Model
CASC – China Accounting Standards Committee
CCA – Current Cost Accounting
CCAB – Consultative Committee of Accountancy Bodies (United Kingdom)
CD – Certificate of Deposit
CEO – Chief Executive Officer
CESR – Council of European Security Regulators
CFC – Conselho Federal de Contabilidade (Brazil)
CGA – Certified General Accountants Association of Canada
CGU – Cash Generating Unit
CIA – Certified Internal Auditor (United States)
CICA – Canadian Institute of Chartered Accountants
CICPA – Chinese Institute of Certified Public Accountants
CIMA – Chartered Institute of Management Accountants (United Kingdom)
CIPFA – Chartered Institute of Public Finance and Accountancy (United Kingdom)
CIT – Chartered Institute of Taxation (United Kingdom)
CMA – Certified Management Accountants (Canada)
CNC – Conseil National de la Comptabilité (France)
CPA – Certified Public Accountant
CPI – Consumer Price Index
CPP – Current Purchasing Power
CULS – Converted Unsecured Loan Stock
CVP – Cost-Volume-Profit Analysis
D
DASC – Danish Accounting Standards Committee
DBR – Drum-Buffer-Rope
DCF – Discounted Cash Flow
DJIA – Dow Jones Industrial Average
E
EAA – European Accounting Association
ECGI – European Corporate Governance Institute
ECP – Euro-Commercial Paper
ECU – European Currency Unit
EDGAR – Electronic Data Gathering, Analysis, and Retrieval System
EDI – Electronic Data Interchange
EFT – Electronic Funds Transfer
EFRAG – European Financial Reporting Advisory Group
EFTPOS – Electronic Funds Transfer at Point of Sale
EIC – Emerging Issues Committee (Canada)
EITF – Emerging Issues Task Force
EMH – Efficient Market Hypothesis
EMU – Economic and Monetary Union
EOQ – Economic Order Quantity
EPS – Earnings Per Share
ERP – Enterprise Resource Planning
ESOP – Employee Share Ownership Plan
EVA – Economic Value Added
F
FACPCE – Federación Argentina de Consejos Profesionales de Ciencias
FAF – Financial Accounting Foundation (United States)
FARR – Financial Accounting and Reporting Rules for Entities (China)
FASAC – Financial Accounting Standards Advisory Council (United States)
FASB – Financial Accounting Standards Board (United States)
FASC – Financial Accounting Standards Committee (Taiwan)
FASF – Financial Accounting Standards Foundation (Japan)
FEE – Fédération des Experts Comptables Européens (Belgium)
FER – Fachempfehlungen zur Rechnungslegung—Swiss GAAP (Switzerland)
FIDEF – Fédération Internationale des Experts Comptables Francophones (France)
FIFO – First In, First Out
FRA – Forward Rate Agreement
FRC – Financial Reporting Council (United Kingdom)
FRED – Financial Reporting Exposure Draft (United Kingdom)
FRF – Financial Reporting Foundation (Malaysia)
FRR – Financial Reporting Release (United States)
FRRP – Financial Reporting Review Panel (United Kingdom)
FRS – Financial Reporting Standards (New Zealand, United Kingdom)
FRSB – Financial Reporting Standards Board (New Zealand)
FRSSE – Financial Reporting Standard for Smaller Entities (United Kingdom)
FSR – Foreningen af Statsautoriserede Revisorer (Denmark)
FX – Foreign Exchange
G
GAAP – Generally Accepted Accounting Principles
GAAS – Generally Accepted Accounting Standards
GASB – German Accounting Standards Board
GASB – Government Accounting Standards Board (United States)
GSCCAB – Gibraltar Society of Chartered & Certified Accountancy Bodies
H
HKICPA – Hong Kong Institute of Certified Public Accountants
HKSE – Hong Kong Stock Exchange
I
IAAER – International Association for Accounting Education and Research
IAASB – International Auditing and Assurance Standards Board
IAB – International Association of Bookkeepers
IAFEI – International Association of Financial Executives Institutes
IAPA – International Association of Practising Accountants (United Kingdom)
IAPC – International Auditing Practices Committee
IAS – International Accounting Standard
IASB – International Accounting Standards Board
IASC – International Accounting Standards Committee
IBRD – International Bank for Reconstruction and Development
ICAA – Institute of Chartered Accountants in Australia
ICAC – Instituto de Contabilidad y Auditoría de Cuentas (Spain)
ICAEW – Institute of Chartered Accountants in England and Wales
ICAI – Institute of Chartered Accountants in Ireland
ICAN – Institute of Chartered Accountants of Nepal
ICAN – Institute of Chartered Accountants of Nigeria
ICANZ – Institute of Chartered Accountants of New Zealand
ICAS – Institute of Chartered Accountants of Scotland
ICSA – Institute of Chartered Secretaries and Administrators (United Kingdom)
IFAC – International Federation of Accountants (United States)
IFAD – International Forum for Accountancy Development
IFAEC – International Federation of Accountants Education Committee
IFRIC – International Financial Reporting Interpretations Committee (IASB)
IFRS – International Financial Reporting Standard
IGC – Implementation Guidance Committee
IIA – Institute of Internal Auditors
IMA – Institute of Management Accountants (United States)
IMF – International Monetary Fund
INTOSAI – International Organization of Supreme Audit Institutions (Austria)
IOSCO – International Organization for Securities Commissions
IPO – Initial Public Offering
IRFAA– International Regional Federation of Accountants and Auditors EURASIA “Eurasia”
IRR – Internal Rate of Return
ISA – International Standards on Auditing
ISACA – Information Systems Audit and Control Association (United States)
ISAR – United Nations Intergovernmental Work Group of Experts on International Standards of Accounting and Reporting
IVSC – International Valuation Standards Committee (United Kingdom)
J
JICPA – Japanese Institute of Certified Public Accountants
JIT – Just-In-Time
K
KASB – Korean Accounting Standards Board
L
LBO – Leveraged Buy Out
LIFO – Last In, First Out
LLC – Limited Liability Company
LSE – London Stock Exchange
M
MAS – Malaysian Accounting Standards
MASB – Malaysian Accounting Standards Board
MBO – Management By Objectives, Management Buy Out
MD&A – Management Discussion and Analysis (United States)
MIS – Management Information Systems
MVA – Market Value Added
N
NASD – National Association of Security Dealers
NASDAQ – National Association of Security Dealers Automated Quotation System
NAV – Net Asset Value
NBV – Net Book Value
NRS – Norsk RegnskapsStiftelse (Norway)
NIFO – Next-In-First-Out
NPV – Net Present Value
NRV – Net Realizable Value
NYSE – New York Stock Exchange
O
OBSF – Off Balance Sheet Financing
OECD – Organization for Economic Cooperation and Development
P
PAC – Public Accounting Council (Canada)
PCAOB – Public Company Accounting Oversight Board (United States)
PDR – Price Dividend Ratio
P/E – Price/Earnings
PI – Profitability Index
PLC – Public Limited Company
POBA – Professional Oversight Board for Accountancy (United Kingdom)
POS – Point of Sale
PSAB – Public Sector Accounting Board (Canada)
PSASB – Public Sector Accounting Standards Board (Australia)
PSR – Profit Sharing Ratio
PTY – Proprietary Company (Australia)
PV – Profit Volume
R
RI – Residual Income
RNS – Regulatory News Service (United Kingdom)
ROCE – Return on Capital Employed
ROE – Return on Equity
ROI – Return on Investment
RPI – Retail Price Index
RQB – Recognized Qualifying Body (United Kingdom)
S
SAC – Standards Advisory Council (IASB)
SEC – Securities and Exchange Commission (United States)
SEDAR – System for Electronic Document Analysis and Retrieval (Canada)
SEEPAD – South Eastern European Partnership on Accountancy Development
SFAC – Standards of Financial Accounting Concepts (United States)
SFAS – Statement of Financial Accounting Standards (United States)
SFC – Securities and Futures Commission (Taiwan)
SIAT – Society of International Accounting Technicians (United Kingdom)
SIC – Standards Interpretations Committee (IASB)
SOX – Sarbanes-Oxley Act 2002
SPE – Special Purpose Entities
SPV – Special Purpose Vehicles
SSAP – Statement of Standards Accounting Practice (United Kingdom)
T
TFOSS – Task Force on Standards Setting (Canada)
TLF – Transferable Loan Facility
TOC – Theory of Constraints
TV – Terminal Value
U
UITF – Urgent Issues Task Force (United Kingdom)
UNCTAD – United Nations Conference on Trade and Development
USAID – U.S. Agency for International Development
W
WACC – Weighted Average Cost of Capital
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