In various domains such as business law, taxation, and international business, the term 'GOV' refers to governmental bodies, regulations, or actions pertaining to public policies, administrative systems, and regulatory frameworks that impact businesses, individuals, and the economy.
The Government Accountability Office (GAO) is an independent agency that provides auditing, evaluation, and investigative services for the United States Congress.
The Government Accountability Office (GAO), formerly known as the General Accounting Office, is an independent, non-partisan agency that works for Congress, investigating how the federal government spends taxpayer dollars.
The Government Accountability Office (GAO) is an independent Congressional agency established in 1921, originally known as the General Accounting Office. It reviews federal financial transactions by examining expenditures and appropriations of federal agencies, reporting directly to Congress.
The Government Accountability Office (GAO) is the audit and investigation department of the U.S. Congress, established in 1921. The GAO’s mission is to carry out financial and performance audits of government organizations and programs.
Government accounting encompasses the principles and procedures unique to accounting for federal, state, and local governmental units, with established rules by the National Council on Governmental Accounting.
Government agency securities are debt instruments issued by U.S. government agencies that, while often rated highly, are not explicitly backed by the full faith and credit of the U.S. government.
A government budget outlines the anticipated annual expenditures and revenue for goods and services, offering a financial framework for policy implementation and national economic health.
A Government Enterprise is a governmentally sponsored business activity, which operates like a corporate business entity. Despite generating its revenue from services rather than through taxation, this enterprise is often publicly managed and oriented towards public welfare.
A government grant is a financial award provided by a government body to an organization to support activities that are deemed socially or economically beneficial. These grants can be either revenue-based or capital-based and have specific accounting treatments according to Financial Reporting Standards.
A fixed-interest British government debt security.
The Government National Mortgage Association (GNMA), commonly known as Ginnie Mae, is a government organization that facilitates housing finance by guaranteeing mortgage-backed securities and supporting low-income housing through loan write-downs.
Government obligations refer to debts that a government owes to creditors, typically in the form of bonds. These obligations are crucial for funding government operations and projects.
The Government Rectangular Survey is a rectangular system of land surveying that divides a district into quadrangles, townships, and sections, predominantly used in most western states of the USA.
Government securities are debt instruments issued by a government to support government spending and obligations. These securities include Treasury bills, bonds, notes, and savings bonds, all of which are considered highly creditworthy due to the backing of the government's 'full faith and credit.'
A quasi-governmental organization that is privately owned but retains certain privileges as it was created by the government. Examples include the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC).
A Government-Sponsored Enterprise (GSE) is a financial services corporation created by the United States Congress. Their purpose is to enhance the flow of credit to specific sectors of the American economy and to make those segments more efficient and transparent. Two prominent GSEs are the Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, and the Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac.
The Governmental Accounting Standards Board (GASB) is an independent, private-sector organization in the United States, responsible for establishing and improving accounting and financial reporting standards for U.S. state and local governments. The GASB operates under the oversight of the Financial Accounting Foundation (FAF).
An influential report on the protection of investors delivered to the UK government in 1984 by Professor Jim Gower, which laid the groundwork for the Financial Services Act 1986.
A grace and notice provision gives borrowers extra time to make required payments or comply with loan terms before being classified as in default in a loan agreement.
A period of time provided in most loan contracts and insurance policies during which default or cancellation will not occur even though payment is past due.
A type of lease agreement that includes predetermined rent increases at specified intervals.
A Graduated Payment Mortgage (GPM) is a mortgage that starts with lower payments in the initial years, which gradually increase in steps over time until the payments are sufficient to amortize the loan fully.
A salary structure of incremental wage levels in an organization. Wages are graduated by job grade, seniority, experience, or performance.
Graft involves the fraudulent obtaining of public money through the corruption of public officials, often entailing the use of money as a payoff or the dishonest advantage one person gains over another due to their position, influence, or trust.
The Graham and Dodd Method, also known as value investing, is an investment approach outlined by Benjamin Graham and David Dodd in their landmark book 'Security Analysis,' initially published in the 1930s. This method advocates for buying undervalued stocks based on thorough fundamental analysis, with the expectation that these stocks will eventually appreciate to their true intrinsic value in the marketplace.
Federal legislation passed in 1985, aimed at reducing the United States federal budget deficit through automatic spending cuts if predefined deficit targets are not met. Officially titled the Balanced Budget and Emergency Deficit Control Act of 1985.
A provision included in new legislation or regulations that exempts certain individuals, businesses, or entities already engaged in regulated activities from complying with new requirements.
A grant can serve as both a term used in property conveyances or as financial assistance provided by government bodies or private foundations to fund projects deemed in the public interest.
The grantee is the party to whom the title of real property is conveyed, effectively the buyer or recipient in a real estate transaction. This term is often used in legal documents such as deeds, contracts, and wills.
A grantor is an entity, often an individual or trustee, that transfers, or 'grants,' assets or rights to another party; in the context of investments and law.
A type of trust that has beneficiaries other than the grantor, but because of the retention of certain interests or certain powers over the trust, all income of the trust is taxed to the grantor.
The grapevine refers to an unofficial pathway of verbal communication where rumors or scuttlebutt spread from person to person through informal networks.
Graphic software refers to programs designed to create, edit, and display visual content, including charts, diagrams, and signs. These tools enhance information visualization, making data and insights more understandable and accessible.
A Graphical User Interface (GUI) is a user-friendly way of interacting with a computer that utilizes visual elements such as icons, menus, and a pointer device. GUIs help simplify commands and improve the overall user experience by providing intuitive and accessible controls.
A Graphical User Interface (GUI) is a type of user interface through which users interact with electronic devices using graphical icons and visual indicators, as opposed to text-based interfaces.
The Graphics Interchange Format, commonly known as GIF, is a bitmap image format introduced by CompuServe in 1987. It supports up to 8 bits per pixel for each image, allowing a single image to reference a palette of up to 256 distinct colors chosen from the 24-bit RGB color space.
Gratis refers to services or goods given freely without any payment, charge, or legal consideration.
In a business context, the term 'gratuitous' refers to actions or items that are uncalled for or provided free of charge. These can include free samples given to potential customers or services voluntarily performed by employees in their personal time.
Gratuity, commonly referred to as a tip, is a sum of money given to certain service sector workers for the services they provide, usually in addition to the basic price.
A bear market where investors who sell incur substantial losses, while potential investors prefer to remain liquid until market conditions improve. Like a graveyard, those who are in cannot get out, and those who are out have no desire to get in.
A work shift that occurs in the middle of the night, typically from midnight to early morning. It’s also known as the third shift, commonly seen in manufacturing and other industries that operate 24/7.
The sale of products by unauthorized dealers, frequently at discounted prices. Consumers who buy gray market goods may find that the manufacturer refuses to honor the product warranty. In some cases, gray market goods may be sold in a country they were not intended for, so the instructions may be in a foreign language.
GRC is an integrated approach to managing an organization's governance, risk management, and compliance activities. It promotes cohesive information sharing and coordination to enhance purpose and efficiency.
The Great Depression was a severe worldwide economic depression that took place during the 1930s, starting in the United States. The timing of the Great Depression varied across nations; in most countries, it started in 1929 and lasted until the late 1930s or early 1940s.
The Greater Fool Theory posits that one can make money through the purchase of overvalued assets by selling them to someone even less informed or more optimistic.
The Greater Fool Theory posits that even if a stock or the entire market is overvalued, investing in such assets can still be justified by the belief that there are always other 'fools' who will pay a higher price.
A green audit, also known as an environmental audit, provides an assessment of an organization's environmental performance and practices to ensure sustainable operations and adherence to environmental regulations.
Green building refers to the practice of creating structures and using processes that are environmentally responsible and resource-efficient throughout a building's life-cycle from siting to design, construction, operation, maintenance, renovation, and deconstruction.
A registration card carried by immigrants with permanent residence status, serving as an intermediate step toward becoming a naturalized U.S. citizen.
Green investing is an investment strategy that focuses on companies committed to the environmentally sustainable practices. Investors who participate in green investing aim to generate financial returns while promoting environmental stewardship.
A comprehensive look into green reporting, an environmental accounting practice where companies quantify their environmental impacts. This is a growing area in corporate reporting, reflecting heightened concerns of investors, consumers, and stakeholders. New Zealand and the EU are at the forefront with specific legislation in place.
A greenback is specifically a term for U.S. paper currency, named for the green ink used on the reverse side. It can also broadly refer to any paper money not backed by physical commodities like gold or silver.
A pivotal report on corporate governance issued in 1995 by a committee under Sir Richard Greenbury emphasizing executive remuneration and non-executive director involvement.
Greenmail refers to the practice of purchasing a substantial block of a company’s shares and then selling them back to the company at a premium over the market price, often to prevent a hostile takeover bid. This contentious tactic is more prevalent in jurisdictions like the United States, where companies can more freely repurchase their shares.
Gregg Shorthand is a system of shorthand developed in England in 1885 by John Robert Gregg. Known for its cursive style and rapid writing capabilities, it is designed to make recording and transcribing speech much quicker and more efficient.
A theory in economics that suggests bad money drives out good money from circulation. When two forms of commodity money are in circulation which are accepted by law as having similar face value, the more valuable one will be hoarded and the less valuable one will be spent.
In a corporate takeover battle, a Grey Knight is a counterbidder whose intentions are not clearly defined, creating uncertainty for the target company.
The grey market comprises markets for legal trading of goods that are in short supply or shares that are not yet issued but will be issued shortly, offering price anticipation and the potential for losses if allocations do not match expectations.
A grid is a network of intersecting horizontal and vertical lines used in various fields, including word processing, graphics, and design, to organize content, align objects, and enhance visual structure.
A grievance is an allegation that something imposes an illegal burden, denies some equitable or legal right, or causes injustice. It often refers to formal complaints within an organizational context, particularly in workplaces subject to collective bargaining agreements.
The term 'gross' can refer to the highest amount of sales or income before deductions, or to a quantity in merchandise, specifically 12 dozen or 144 items.
Gross amount refers to the total amount of something before any deductions are made for costs, taxes, or losses. For instance, gross revenues do not take into consideration factors such as taxes, depreciation, and other costs.
Gross billing refers to the total cost of advertising with a communications medium, including the advertising agency commission, and often also encompasses the cost of a one-time insertion in a communications medium.
Gross corporation tax is the total amount of corporation tax payable on the profits chargeable to corporation tax for an accounting period, calculated before deduction of any income tax suffered on investment income.
The gross dividend refers to the total amount a company distributes to its shareholders before any withholding taxes or other deductions.
The total of the gross dividends paid by a company in a year divided by the total number of ordinary shares on which the dividend is paid.
Gross dividend yield represents the annual dividend income received from a security as a percentage of its current market price before the deduction of any taxes or charges.
Gross Domestic Product (GDP) is a comprehensive measure of a nation's overall economic activity, representing the total dollar value of all goods and services produced over a specific time period within a country's borders.
Gross Domestic Product (GDP) is the market value of all goods and services produced within a country during a specific period, usually annually or quarterly. It serves as a comprehensive measure of national economic activity and health.
The monetary value of all the goods and services produced by an economy over a specified period. GDP serves as a broad measure of overall economic activity and an indicator of an economy's health.
Real GDP is an inflation-adjusted measure of the value of goods and services produced by an economy in a specific period, allowing for meaningful comparisons across different years.
Gross earnings refer to an employee's salary or wages before any deductions for taxes, Social Security, and employee benefit contributions are made.
Insurance coverage for loss in the gross earnings of the business (minus expenses that cease while the business is inoperative) as a result of the interruption of normal business activities caused by damage to the premises by an insured peril.
The gross equity method is a way of accounting for associated undertakings whereby the investor displays its proportionate share of the investee's aggregate gross assets and liabilities on the balance sheet. Additionally, the related share of turnover is noted in the profit and loss account.
Gross estate refers to the total value of a person's assets before liabilities such as debts and taxes are deducted. It includes all types of property and accounts that the deceased owned or had an interest in.
Gross federal debt refers to the total amount of debt that the federal government has accrued over time, encompassing both public and private holdings.
Gross Income refers to the total earnings from all sources before any deductions or taxes. It encompasses income from employment, self-employment, rental property, alimony, child support, public assistance payments, and retirement benefits.
The Gross Income Multiplier (GIM) is a metric used in real estate to evaluate the relative value of an income-generating property. It is calculated by dividing the property's sale price by its gross annual rental income.
Gross Leasable Area (GLA) is the total floor area of a building available for rental to tenants, usually measured from the outside walls without deducting for hallways, lobbies, or other common areas.
A gross lease is a rental agreement where the landlord is responsible for paying all property expenses, including taxes, insurance, utilities, and repairs. Under this lease, the landlord receives rent as a gross figure and covers the operating expenses.
Gross margin represents the percentage of total sales revenue that a company retains after incurring the direct costs associated with producing the goods and services it sells. It is a critical metric for assessing a company's financial health and operational efficiency.
The gross margin ratio, also known as the gross profit percentage, is a financial metric that measures the proportion of money left over from revenues after accounting for the cost of goods sold (COGS). It is a critical indicator of a company's financial health and its ability to manage production costs.
Gross National Expenditure (GNE) is the total of all expenditures of all kinds within an economy, including both public and private spending. Unlike Gross Domestic Product (GDP), GNE includes expenditures for imports but excludes exports.
Gross National Product (GNP) is a measure of the economic output of a country, accounting for the market value of all goods and services produced by the residents of the country, whether located domestically or abroad.
Gross National Product (GNP) is a financial metric that measures the total economic output of a country's residents, regardless of the geographic location of the output.
Gross National Product (GNP) is a measure of the economic performance of a country's residents, reflecting the total value of goods and services produced by a country's residents, including overseas income.
Gross profit, also known as gross margin or gross profit margin, is the difference between a company’s sales revenue and its cost of goods sold (COGS), excluding operating expenses such as finance, administration, and distribution costs.
Gross Profit Margin is a financial metric used to assess a company's financial health and its efficiency in generating profit from revenue. It represents the percentage of revenue that exceeds the cost of goods sold (COGS).
A technique used to estimate inventory at the end of an interim period, commonly used for preparing interim financial statements and estimating inventory for insurance reimbursement in case of loss.
A ratio of financial performance that calculates gross profit as a percentage of sales, serving as a critical measure of trading success in retailing companies.
In the context of installment sales, the Gross Profit Ratio is the proportion of gross profit (gain) to the contract price, used to determine the taxable gain from periodic receipts from the buyer.
Gross Rating Point (GRP) measures the impact and volume of an advertising campaign. It is the sum of all rating points over a specific period or across an entire media plan, reflecting how much exposure an advertisement has achieved.
Gross receipts refer to the total income a business receives from all sources before deductions or allowances.
The gross redemption yield, also known as the effective yield or yield to maturity (YTM), represents the internal rate of return of a bond bought at a specified price and held until its maturity, excluding any taxes payable on the interest and the capital repayments.
A real estate valuation metric calculated by dividing the sales price of a property by its gross rental income, typically used to estimate the value of income-producing properties.
Gross Revenue, also known as Gross Sales, refers to the total sales revenue of a company at invoice values, before any deductions for customer discounts, returns, allowances, or other adjustments.
A Gross Ton (GT) is a unit of weight commonly used in the United Kingdom and United States for measuring heavy masses, equivalent to 2,240 pounds in the Avoirdupois system, traditionally employed in shipping and heavy industries.
To convert a net amount into its equivalent gross amount. For example, an amount payable net of 17.5% value added tax would be grossed up to the amount payable including 17.5% value added tax, i.e. by multiplying the net amount by 1.175.
Gross weight refers to the total weight of goods within a shipping container, including the weight of the container itself. This measurement is crucial in logistics and transportation for managing load limits and calculating shipping costs.
