GOVERNMENT ACCOUNTABILITY OFFICE Definition

Bookmark and Share

GOVERNMENT ACCOUNTABILITY OFFICE (GAO) is the organization in the U.S. Congress that investigates the performance of the federal government. GAO evaluates the use of public funds and the performance of federal programs, while also providing analytical, investigative and legal services in order to support to Congress in its policy formulation and decision making processes. Most GAO reports are initiated at the request of Congress, while some are initiated by the agency itself or are required by law.

Learn new Accounting Terms

INVENTORY for companies: includes raw materials, items available for sale or in the process of being made ready for sale (work in process) for securities: it is securities bought and held by a broker or dealer for resale. A firm that has a sustainable competitive advantage has an inventory and net earnings are rising on a corresponding basis. Inventories that spike up/down are indicative of competitive industries prone to boom/bust.

SLR see STATUTORY LIQUIDITY RATIO. SLR is an acronym with several other possible meanings, e.g., Stock Level Report, Stock Level Requirement, System Level Requirement(s), etc.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.