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Common Acronyms in the Accounting World

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Here are list of acronyms that commonly found in the accounting world

A

Acronyms in the Accounting WorldAAA – American 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)

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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
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

2 Comments

2 Comments

  1. Feb 26, 2010 at 6:34 pm

    Hi, CGA actually stands for: Certified General Accountant
    CGA-Canada is the national association.

  2. archie

    Mar 3, 2010 at 2:44 am

    Hi Putra, what is cost management theory? what do you mean by cost awareness, cost incentive, cost reduction, cost monitoring, and cost controlling? can you give examples for each? thank you so much. archie

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