s.3Meaning of accounting terms— Public Management and Finance Act (2026 Revision)

Section 3Part 1 — Preliminary

Meaning of accounting terms

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In this Act, the terms "asset", "liability", "revenue" and "expense" have the meanings accorded to them by generally accepted accounting practice.

10 Parts

s.3Meaning of accounting terms— Public Management and Finance Act (2026 Revision)

Section 3Part 1 — Preliminary

←→ Navigate · Click subsection badges to collapse · Press ? for help

In this Act, the terms "asset", "liability", "revenue" and "expense" have the meanings accorded to them by generally accepted accounting practice.