substance over form

substance over form
The notion that the economic substance of a transaction, *asset, or liability takes precedence over its legal and technical form. The exploitation of narrow legal and technical interpretations of items is a typical Creative accounting mechanism to overstate *earnings and understate liabilities (e.g., through *off-balance sheet financing). Consequently, systems of *Generally Accepted Accounting Principles around the world are increasingly emphasizing the importance of substance over form.

Auditor's dictionary. 2014.

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  • substance over form — changed hwd as in Oxford as this seems to be the much more usual form ˌsubstance over ˈform noun [uncountable] ACCOUNTING the principle that what actually happens or is actually done may be different from, and sometimes more important than, the… …   Financial and business terms

  • Substance over form — is an accounting principle used, To ensure that the financial statements reflects the complete, relevant and accurate picture of the transactions and events . [cite web|title=Substance over form|author=Basic college accounting.com|date=Jun 20,… …   Wikipedia

  • form — ▪ I. form form 1 [fɔːm ǁ fɔːrm] noun [countable] an official document with spaces to answer questions and add information: • a Medicare Benefits form • We need to receive your application form by July 31. • There was no delivery address on the… …   Financial and business terms

  • Substance dependence — Substance dependency Classification and external resources ICD 10 F10.2 F19.2 ICD 9 …   Wikipedia

  • Substance-induced psychosis — Classification and external resources ICD 10 F10.5 F19.5 ICD 9 …   Wikipedia

  • Over — O ver ([=o] v[ e]r), prep. [AS. ofer; akin to D. over, G. [ u]ber, OHG. ubir, ubar, Dan. over, Sw. [ o]fver, Icel. yfir, Goth. ufar, L. super, Gr. ype r, Skr. upari. [root]199. Cf. {Above}, {Eaves}, {Hyper }, {Orlop}, {Super }, {Sovereign},… …   The Collaborative International Dictionary of English

  • Over all — Over O ver ([=o] v[ e]r), prep. [AS. ofer; akin to D. over, G. [ u]ber, OHG. ubir, ubar, Dan. over, Sw. [ o]fver, Icel. yfir, Goth. ufar, L. super, Gr. ype r, Skr. upari. [root]199. Cf. {Above}, {Eaves}, {Hyper }, {Orlop}, {Super }, {Sovereign},… …   The Collaborative International Dictionary of English

  • Over head and ears — Over O ver ([=o] v[ e]r), prep. [AS. ofer; akin to D. over, G. [ u]ber, OHG. ubir, ubar, Dan. over, Sw. [ o]fver, Icel. yfir, Goth. ufar, L. super, Gr. ype r, Skr. upari. [root]199. Cf. {Above}, {Eaves}, {Hyper }, {Orlop}, {Super }, {Sovereign},… …   The Collaborative International Dictionary of English

  • Over one's head — Over O ver ([=o] v[ e]r), prep. [AS. ofer; akin to D. over, G. [ u]ber, OHG. ubir, ubar, Dan. over, Sw. [ o]fver, Icel. yfir, Goth. ufar, L. super, Gr. ype r, Skr. upari. [root]199. Cf. {Above}, {Eaves}, {Hyper }, {Orlop}, {Super }, {Sovereign},… …   The Collaborative International Dictionary of English

  • Over the left — Over O ver ([=o] v[ e]r), prep. [AS. ofer; akin to D. over, G. [ u]ber, OHG. ubir, ubar, Dan. over, Sw. [ o]fver, Icel. yfir, Goth. ufar, L. super, Gr. ype r, Skr. upari. [root]199. Cf. {Above}, {Eaves}, {Hyper }, {Orlop}, {Super }, {Sovereign},… …   The Collaborative International Dictionary of English

  • substance — Stuff; material. SYN: substantia [TA], matter. [L. substantia, essence, material, fr. sub sto, to stand under, be present] alpha s. SYN: reticular s. (1). anterior perforated s. [TA] a region at the base …   Medical dictionary

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