GLOSSARY of Accounting Terms – G

August 24th, 2006 Comments off
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RETURN TO GLOSSARY INDEX

Gains

Increases in economic benefits and as such are no different in nature from revenue.

Going concern

The financial statements are prepared on a going concern basis unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so.

Goodwill

Future economic benefits arising from assets that are not capable of being individually identified and separately recognised.

Group

A parent and all its subsidiaries.

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Financial Accounting

 
 

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