ACCOUNTING PRINCIPLES USED BY NIKE INC. Research Paper (Research Paper Sample)

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Accounting Policies at Nike Inc.
Accounting policies can be defined as a set of standards that are implemented by a company to provide guidance during preparation of financial statements ( Srivastava,661) . While policies may tend to be confused with procedures, the two terminologies used in accounting may easily be confused for the other. Policies differ from the accounting procedures in such a way that while principles are supposed to be rules governing the financial statement making process, policies are standards that the company should meet in order to meet the accounting rules. The accounting policies are required in accounting platforms such as consolidation of financial accounts, Research & Development (RD cost) preparation, depreciation calculations e.t.c. (White, Ashwinpaul ,Sondh & Dov,1) . However, accounting principles may vary from company to another as each company has its own accounting policies which conform to the General Accepted Accounting Principles (GAAP) accounting body.