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English definition of “statement of principles”

statement of principles

noun [C]
 
 
(plural statements of principles)
a statement in which a person or organization describes their beliefs and intentions: He will call for a 'statement of principles' which sets out which areas are controlled by the EU and which are handled by national governments. We need a clear statement of principles, backed up by firm commitments.
(also Statement of Principles) ( abbreviation SOP) ACCOUNTING in the UK, an official set of rules published by the Accounting Standards Board for company accounts: Issue costs are not assets as defined in the Board's draft Statement of Principles.
(Definition of statement of principles from the Cambridge Business English Dictionary © Cambridge University Press)
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