statement of principles
noun [ C ]
ukusplural statements of principlesa 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.
ACCOUNTING (also Statement of Principles) ( abbreviation SOP)
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.