Index of Accounting Terms - G
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General Ledger
Related Terms: GL, Nominal Ledger, Main Ledger
What is a General Ledger? A general ledger (GL) is a core set of accounts that summarizes all the transactions occurring within a company.
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Generally Accepted Accounting Principles (GAAP)
Related Terms: GAAP, Accounting Standards, Financial Reporting Standards
What are Generally Accepted Accounting Principles (GAAP)? A common set of accounting principles, standards, and procedures that companies must follow when compiling their financial statements.
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Gross Margin
Related Terms: Gross Profit Margin, Sales Margin
What is Gross Margin? A profitability ratio that represents the percentage of revenue remaining after deducting the cost of goods sold.
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Gross Profit
Related Terms: Gross Income, Sales Profit
What is Gross Profit? The revenue a company generates after subtracting the direct costs associated with producing its goods and services.
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Gross Profit Margin
Related Terms: Gross Margin, Sales Margin
What is Gross Profit Margin? A profitability metric showing the percentage of revenue left after accounting for the cost of goods sold.
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Gross vs. Net
Related Terms: Before Deductions, After Deductions
What is Gross vs. Net? Gross refers to a total amount before deductions, while net refers to the remaining amount after deductions have been subtracted (e.g., gross profit vs. net profit, gross pay vs. net pay).
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Accounting and Bookkeeping
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