FDIC Definition

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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.

LEVERAGE RATIOS measures the relative contribution of stockholders and creditors, and of the firms ability to pay financing charges. Value of firms debt to the total value of the firm.

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