Coding Accounting Principles .

Abstract The article examines existing methods of coding accounting principles, suggests a uniform code that would identify the principles clearly, and organizes the coded principles in a way as to aid further research. The organization Accounting Principles Board (APB), in June 1963, approved the preparation of an inventory of generally accepted accounting principles which is useful in the present-day accounting activity. APB's inventory, Accounting Research Study No. 7, accounts for sales, revenues, income, cost of sales, expenses, gains and losses in such manner as to present fairly the results of operations for the period or periods of time covered. Sales, revenues and income should not be anticipated or materially overstated or understated. Accordingly, there must be proper cutoff accounting at beginning and end of the period or periods. The coding of conditions, concepts or postulates, principles, and practices of accounting should make it easier to improve the definitions, logical patterns, of accounting theory, and should provide a base for reference to specific ideas in articles, books, etc. by accounting theorists and committees.