Principles of Accounting

These Principles of Accounting apply to all staff who work with any aspect of the accounting processes in any entity of the group. They sure that all accounting works meet the requirements of the relevant jurisdiction, and those of the owner(s). These principles must be observed and followed at all times, without exception. They are not negotiable or voluntary: they are required. Following these Principles meets the company goals, vision and mission and ensures all internal and external compliance requirements are met. Not following these requirements will lead to immediate discipline, including verbal and written warnings, and potentially loss of employment. Staff are assessed on their adherence to these principles regularly throughout their employment at Performance Reviews.

  1. Meet GAAP standards
  2. Have one piece of paper for every transaction
  3. Follow and update Detailed Duties Lists
  4. Use and update Registers as the Single Authoritive Source
  5. File and organise on the day
  6. Report clearly
  7. Be accurate and precise
  8. Deliver only complete work
  9. Stay confidential and secure
  10. Actively communicate
  11. Ask questions, never assume
  12. Keep thorough records
  13. Be on schedule
  14. Understand commercial realities

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