Financial Terms Dictionary G GAAP Generally accepted accounting principles (GAAP) are the financial reporting standards in the United States. GAAP is developed by the FASB under the...

Financial Terms Dictionary H HLOOKUP The HLOOKUP function is an Excel function that retrieves data from a specific row in a table in Excel. HLOOKUP supports approximate and exact...

Financial Terms Dictionary I IASB International Accounting Standards Board (IASB) sets the IFRS global accounting standards. IFRS International Financial Reporting Standards;...

Financial Terms Dictionary J Journal A journal is where financial transactions are first recorded in chronological order. Each transaction is called a journal entry. The journal is...

Financial Terms Dictionary K Kaizen Kaizen is a Japanese term for continuous improvement. This is important in manufacturing companies to improve processes and increase...

Financial Terms Dictionary L Liability A liability is a debt that a business owes. Liabilities are one of the five types of accounts and are shown on the balance sheet. They are...