ABNORMAL RETURNS Definition

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ABNORMAL RETURNS is the difference between the actual return and that is expected to result from market movements (normal return).

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GENERALLY ACCEPTED AUDITING STANDARDS (GAAS), in the US, are the broad rules and guidelines set down by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA). In carrying out work for a client, a certified public accountant would apply the generally accepted accounting principles (GAAP) if they fail to do so, they can be held to be in violation of the AICPAs code of professional ethics.

MATCHING, in accounting, is the matching of invoices to purchase orders and delivery notes prior to payment.

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