A General Warranty Deed is a legal document used in the transfer of ownership of real property, where the grantor guarantees the grantee a clear title free from any claims or encumbrances, both during and before the grantor's ownership.
A generalist is an individual who possesses a wide array of skills, interests, and knowledge across various fields or whose job responsibilities span multiple domains. This contrasts with a specialist, who focuses narrowly on a particular area of expertise.
Generally Accepted Accounting Principles (GAAP) are a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements. GAAP’s objective is to ensure that financial reporting is transparent and consistent from one organization to another.
Conventions, rules, and procedures that define accepted accounting practice, including broad guidelines as well as detailed procedures, ensuring consistency and transparency in financial reporting.
Generally Accepted Accounting Principles (GAAP) are a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements. GAAP is a combination of authoritative standards set by policy boards and common accounting procedures accepted across the industry.
US GAAP refers to the accounting rules, standards, and concepts that guide US accountants in measuring, recording, and reporting financial transactions.
Generally Accepted Auditing Standards (GAAS) are a set of systematic guidelines used by auditors when conducting audits on companies' financial statements. These standards ensure the accuracy, consistency, and verifiability of auditors' actions and reports.
An overview of the Generally Accepted Auditing Standards (GAAS) set by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA), detailing the three General Standards, three Field Work Standards, and four Standards of Reporting.
A Generation-Skipping Transfer (GST) involves the transfer of financial assets or property to a recipient who is more than a single generation removed from the transferor, potentially incurring the generation-skipping tax (GSTT).
The term 'generic' can be used in various contexts such as to describe something that relates to or covers an entire class or category. In marketing, it often refers to a whole product or service category without any specific brand association.
A generic appeal in advertising focuses on promoting an entire product category rather than a specific brand. For example, the American Dairy Association's campaign encouraging the consumption of milk doesn't spotlight any particular milk brand.
A broad group of buyers with approximately the same general needs, who can choose from different sellers offering varying ways to satisfy those needs.
Generic products are plainly labeled, unadvertised products, which often include items such as prescription drugs and grocery items. They are typically more affordable, often costing up to 40% less than national brands.
Genetic engineering refers to the techniques by which genetic material can be altered to change or improve the hereditary properties of microorganisms, plants, and animals.
Gentrification refers to the process by which higher-income individuals displace lower-income residents in a neighborhood, often occurring when an older area undergoes revitalization.
A principle in tax law that allows for a transaction to be excluded from certain anti-avoidance provisions if it was undertaken for legitimate business purposes rather than for tax evasion or avoidance.
Geodemography involves attributing demographic characteristics to a group of individuals residing in the same geographic area through an overlay of demographic survey data against a geographically segmented list.
A divisional unit within an organization structured on the basis of its operational location, allowing for localized decision-making and management.
A Geographic Information System (GIS) is a computer mapping program that allows users to visualize, analyze, and interpret location-based data. By using color-coding and overlays of land characteristics and demographic information, GIS enables the efficient determination of various business activities and demographic trends.
Geographic segments refer to specific geographical areas, typically countries or groups of countries, where a company operates. According to International Financial Reporting Standard (IFRS) 8, companies must disclose certain financial data for each geographic segment in their financial statements.
A geographic segment is defined as the origin or area from which products or services of an organization are supplied to a third party or another segment within the same organization. This is crucial in segmental reporting to understand performance disparities across different regions.
Geographic Segmentation is a customer market classification strategy based principally on geographic location, facilitating targeted marketing and enhanced customer satisfaction.
The geometric mean is a measure of central tendency obtained by multiplying all the numbers in a set together and then taking the *n*th root of the resulting product, where *n* is the total number of values in the set.
The geometric mean is a type of mean that is calculated by taking the n-th root of the product of n numbers. It is particularly useful for sets of numbers whose values are meant to be multiplied together or are exponential in nature, such as rates of growth.
A GI Loan, also known as a VA Loan, is a mortgage loan provided by private lenders and partially guaranteed by the Veterans Administration (VA) to eligible veterans, service members, and their families. It is designed to offer long-term financing to American veterans or their surviving spouses.
GIF is a data compression format used for transferring graphic images, primarily on the Internet. This format was initially created by CompuServe and is known for its .gif file extension.
A gift is a voluntary transfer of property or assets from one individual to another without receiving anything of value in return. This can have implications for both the donor and the recipient under tax laws.
Gift Aid is a UK tax incentive system that allows individuals and companies to donate money to charities and for the charities to reclaim the basic rate tax from the government on the donation's value, increasing the money going to the charity.
A gift card is a type of gift certificate in the form of a card into which value can be encoded. It is used much like a credit card for the purchase of consumer goods and services, up to the limit of stored value.
Gift causa mortis is a transfer of property made by a person facing impending death to a donee, which becomes effective upon the donor's death but can be revoked if the donor survives.
A gift deed is a legal document used to voluntarily transfer ownership of property from one person (the donor) to another (the donee) out of love and affection, without any material consideration involved.
A gift inter vivos refers to the transfer of property from a donor to a donee during the donor's lifetime, made without any consideration or compensation. The donor thereby relinquishes all control or ownership over the gifted property.
Gift splitting is a tax strategy that allows a married couple to combine their individual annual gift tax exclusions and unified estate and gift tax credits, enabling them to give a larger gift to a recipient without incurring gift tax liability.
The gift tax is a graduated excise tax levied on the donor of a gift by the federal government and most state governments, which comes into play when assets are transferred from one person to another.
Gift Tax Exclusion allows taxpayers to give away a certain amount of money or property without having to pay federal gift tax on the transfer. The annual exclusion amount was $13,000 per donee in 2011, indexed for inflation.
A gift with reservation is a type of gift where the donor retains some benefit from the asset despite having transferred ownership to another party. This concept is pertinent in taxation and estate planning.
Gifts made during an individual's lifetime, which have specific implications for inheritance tax based on their amount, occasion, and recipient.
A gigabyte (GB) is a unit of digital information storage used in computing and telecommunications. It is equivalent to 1,024 megabytes (MB) or approximately one billion bytes.
Gigabyte (GB) is a computer storage unit representing one billion bytes or precisely 1,073,741,824 bytes (2^30^ bytes) when referring to computer memory.
A Gigabyte (GB) is a unit of digital storage in computers, equating to 2^30^ or approximately one billion bytes.
The Gilt Repo Market is a platform for the sale and repurchase of gilt-edged securities, established by the Bank of England in 1996. This market plays a crucial role in the implementation of monetary policy by influencing the liquidity within the banking system.
A discount UK government stock that has been issued by the Bank of England since 1996. A bond can be divided into a set of payments, which are made by the state and sold at a discount.
Gilt-edged securities, known as gilts, are fixed-interest securities issued by the British government. They are trusted for their safety, as the risk of default by the government on interest or principal repayments is minimal.
Ginnie Mae, commonly referred to as the Government National Mortgage Association (GNMA), is a government corporation within the U.S. Department of Housing and Urban Development (HUD). It guarantees the timely payment of principal and interest on mortgage-backed securities (MBS) issued by approved lenders.
A Ginnie Mae pass-through security is backed by a pool of mortgages and guaranteed by the Government National Mortgage Association (GNMA), passing through to investors the interest and principal payments of homeowners.
A Giro is a banking arrangement for clearing and settling small payments, commonly used in Europe. It includes systems like the National Girobank in the UK, Bank Giro, and Bancogiro, along with a colloquial use related to social security payments.
A Glamor Stock is a type of stock that has a wide public and institutional following, often due to consistently rising sales and earnings over a long period. These stocks tend to outperform market averages during bull markets.
The 'glass ceiling' refers to the invisible barriers that prevent women and minorities from advancing to senior management and executive positions within an organization despite their qualifications and achievements.
The Glass-Steagall Act of 1933 is a legislative measure passed by Congress that authorizes deposit insurance and prohibits commercial banks from owning brokerage firms. This act was largely repealed by the Financial Services Modernization Act of 1999.
A glitch is a temporary, often unexplained, malfunction or irregularity in software, hardware, or digital communication systems. While usually minor, glitches can impact functionality and user experience.
A comprehensive guide exploring the definition, examples, FAQs, related terms, references, and recommended books for understanding global bonds.
Safekeeping, usually by banks, of securities held on behalf of clients, with comprehensive services spanning markets and securities in multiple countries.
An economic equilibrium that exhibits an equality of expected real interest rates among countries when there are no restrictions on international trade, credit, and currency exchanges.
A risk management strategy utilized to balance positions of various business units or with unrelated third parties to mitigate exposure to financial risks.
A network of satellites allowing users with portable GPS devices to determine precise locations on the surface of the Earth.
An international non-profit organization that encourages companies to disclose information about their ethical, social, and environmental behavior as well as their financial performance. The GRI has developed a Sustainability Reporting Framework for companies and aims to make its use standard practice.
The Global Reporting Initiative (GRI) is an international independent organization that helps businesses, governments, and other organizations understand and communicate their impact on critical sustainability issues.
A computer search throughout an entire document for words, characters, or other data that might need to be located or changed.
Globalization refers to the multifaceted process that allows investment in financial markets and the exchange of goods, services, and information across international boundaries, facilitated by advancements in technology, deregulation, and the operations of powerful multinational enterprises.
A situation in which the supply of a good or service exceeds its demand at the current price, leading to an excess that cannot be sold.
Gmail is a free email service provided by Google, offering users a substantial amount of online storage for messages and comprehensive search capabilities.
A go-between acts as an intermediary between two people or groups, facilitating communication, negotiation, or transactions to ensure smooth handling of particulars in the relationship. The go-between often has a vested interest in the process.
An individual or organizational objective target to be achieved within a particular time period. Organizational goals, for example, may include becoming number one in market share of a particular product within a specified timeframe.
Goal congruence refers to the consistency or agreement of individual or departmental actions with overarching organizational goals, ensuring alignment in pursuit of a firm’s central objectives.
The situation in which the objectives of agents coincide with those of principals, ensuring organizational and shareholder goals align with individual managers' objectives. Essential in agency theory for optimizing performance and reducing conflicts.
Goal programming is a form of linear programming that allows for consideration of multiple, potentially conflicting goals in decision-making processes.
Goal setting involves establishing steps to meet the objectives of an individual or a firm. For instance, to achieve a 10% increase in sales, a company may increase each salesperson's quota by $10,000.
Going long refers to the practice of purchasing a stock, bond, or commodity for investment or speculation purposes. The purchased security is held with the expectation that its value will increase over time, thereby providing profits to the investor.
Going private refers to the movement of a company from public to private ownership, either by the company's repurchase of its shares or through purchases by an outside private investor.
The process in the securities industry where a private company offers its shares to the public for the first time. This transition involves the shift of company ownership from a few private shareholders to a broader base of public shareholders and brings the company under the regulatory and legal requirements applicable to public companies.
Going short refers to the act of selling a stock or commodity that the seller does not own, typically in anticipation that the price will decline, allowing them to buy it back at a lower price for a profit.
A fundamental accounting concept that assumes an enterprise will continue its operations for the foreseeable future. It is integral in financial reporting and valuation of assets and liabilities.
Understanding the Importance of Going-Concern Value in Assessing a Company's Operating Worth.
Gold fixing refers to the daily determination of the price of gold by selected gold specialists and bank officials in London, Paris, and Zurich. The price is fixed at 10:30 A.M. and 3:30 P.M. London time every business day according to prevailing market forces of supply and demand.
A monetary system where currency units are directly convertible into fixed amounts of gold. Known for its anti-inflationary characteristics, the United States operated under this system until 1933.
Goldbricking is a term used to describe the act of shirking one's responsibilities. It implies that a person is avoiding their duties and wasting time instead of performing the tasks expected of them.
An analyst or investor enamored with gold as a significant investment, often recommending gold as a safe haven during economic uncertainties such as depressions or hyperinflation.
Financial incentives offered to key staff to persuade them to remain with an organization.
A golden handshake, also known as a golden good-bye, is an ex gratia payment made by an employer to an employee upon termination of employment, such as in the event of a company takeover. Certain conditions may allow such payments to be partially or fully tax-free.
A Golden Hello is a financial incentive offered to a potential new employee to entice them to join a company, often provided in industries where talent competition is fierce.
The 'Golden Key' in an employment context typically refers to a provision or payment that releases an employee from a long-term employment contract, often described as the key that unlocks the Golden Handcuffs.
A provision in an executive's employment contract that promises substantial severance packages if the individual is terminated or chooses to leave following a change in company ownership or a takeover.
A golden share is a type of share in a company that holds significant voting rights, often retained by governments to maintain control in strategic sectors following privatization.
A colloquial term for an economy that combines low inflation with steady economic growth. Such an economy is 'not too hot, not too cold, but just right,' similar to the porridge in the story of Goldilocks and the Three Bears.
Good delivery is a term used in the securities industry to signify that a certificate has the necessary endorsements and fulfills all specified requirements (including signature guarantees, proper denomination, and other qualifications) so that the title can be transferred by delivery to the buying broker, who is then obligated to accept it.
Good Faith refers to the total absence of intention to seek unfair advantage or to defraud another party; it denotes an honest intention to fulfill one's obligations and the observance of reasonable standards of fair dealing.
The Good Housekeeping Seal is a prestigious seal of approval awarded to products that meet rigorous standards established by the Good Housekeeping Institute, under the direction of Good Housekeeping Magazine. It is a symbol of quality and consumer trust, used for over 100 years.
In the context of banking, federal funds that are good the same day in contrast to clearinghouse funds, which typically require three days to clear or involve a one-day float. Good money is also a concept discussed in Gresham's Law, which states that currency of superior intrinsic value will be driven out of circulation by currency of lesser intrinsic value.
A *Good Title* refers to a legal concept where a title is free from present litigation, obvious defects, and grave doubts concerning its validity or merchantability. This implies that such a title is marketable to a reasonable purchaser or can be used as security for a loan to a person of reasonable prudence.
A Good-Faith Deposit is a monetary advance indicating intent to pursue a contract to completion and is used in various settings including commodities, securities, and real estate transactions.
A brokerage customer's order to buy or sell a security, usually at a particular price, that remains in effect until executed or canceled.
A statistical procedure used to test the hypothesis that a particular probability distribution adequately fits an observed set of data.
Goods refer to commodities or items of commerce that are tangible and physical, and can be owned, sold, or exchanged in the marketplace, excluding real estate, choses in action, investment securities, or similar items.
Goods and Services form the backbone of any economy, representing the outputs that fulfil human needs and wants. Goods refer to tangible products, while services pertain to tasks performed by individuals or entities.
A document used by businesses to confirm and record the receipt of goods ordered. The GRN ensures that the items received match the order in terms of quantity, quality, and specification.
A Goods Received Note (GRN) is an important document used in the accounting and inventory management process, signifying the receipt of goods by a business.
Goodwill is an intangible asset reflecting a business's customer connections, reputation, and similar factors. It is the difference between the value of the separable net assets of a business and the total value of the business.
A special reserve used for accounting purposes to handle the write-off of goodwill from the balance sheet. This reserve has a particular debit balance and serves as a tool for managing potential overvaluations in the goodwill asset.
Google is a search engine owned by Google Inc., recognized as the largest and most popular on the Web. Its influence has become so pervasive that 'google' has been adopted as a verb in the English language.
Google Earth is an application provided by Google that allows users to browse satellite images of the world via street addresses or geographic coordinates (latitude and longitude).
