Glossary G-H

/Glossary G-H
Glossary G-H2018-03-13T10:10:17+00:00


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GAAP: The acronym for generally accepted accounting principles, the American institute of CPA’s standard of accounting.
Goodwill: the difference between the purchase price and the value shown on the corporate books at the time of closing.
Holdback provision: as written into the purchase and sale agreement, if a buyer winds up having to pay a debt the seller did not disclose, the amount paid from that which was held back at closing in an escrow account.