The common set of accounting rules, standards and procedures that companies use to compile their financial statements.

An intangible asset (see Intangible Assets) that arises as a result of the acquisition of one company by another. The value of a company’s brand name, solid customer base, good customer relations, good employee relations and any patents or proprietary technology represent goodwill. On a balance sheet it represents the excess value of a firm's net assets and is recorded at time of business acquisition or combination.

The amount remaining after the cost of producing goods and services is subtracted from the revenue.

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Is a profitability measure, expressed as a percentage, that tells how much of every dollar of revenues (see Revenue) is left after paying for the cost of goods sold (see Cost of Goods Sold).

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