Best Practices
Definition of 'Best Practices'A set of guidelines, ethics or ideas that represent the most efficient or prudent course of action. Best practices are often set forth by an authority, such as a governing body or management, depending on the circumstances. While best practices generally dictate the recommended course of action, some situations require that such practices be followed. |
|
Investopedia explains 'Best Practices'Best practices serve as a general outline for a variety of situations. For instance, in the production process, a list of best practices may be given to employees, highlighting the most efficient way to complete their tasks. For accountants, the Generally Accepted Accounting Principles represent best practices for the profession. An investment manager may follow best practices when managing a client's money by prudently investing in a well-diversified portfolio. |
Related Definitions
Articles Of Interest
-
Shopping For A Financial Advisor
Finding your perfect advisor is as simple as shopping for a car. Read on to learn more. -
10 Tips For The Successful Long-Term Investor
These guiding principles will help you avoid common folly during the decision-making process. -
Policing The Securities Market: An Overview Of The SEC
Find out how this regulatory body protects the rights of investors. -
Pay Attention To The Proxy Statement
Don't overlook this overview of a company's well-being. -
Top 4 Most Scandalous Insider Trading Debacles
Here we look at some of the landmark incidents of insider trading. -
Handcuffs And Smoking Guns: The Criminal Elements Of Wall Street
From godfathers to perps, familiarize yourself with the "criminal elements" creeping around Wall Street. -
Explaining Amortization In The Balance Sheet
Amortization is important to account for intangible assets. Read to find out more about amortization. -
Defining Illegal Insider Trading
The better you understand why insider trading can be criminal, the better you'll understand how the market works. -
Digging For Profitable Delistings
Deregistration can provide opportunities for savvy investors. We'll show you how to cash in. -
Top 4 Most Competitive Financial Careers
If your goals include a big paycheck and working for a Wall Street firm, then you need to learn how to meet employers' expectations.
Free Annual Reports