THIN MARKET is a market in which there is not an abundance of securities available, where any activity, either a purchase or sale, may have a substantial effect on market prices. See TIGHT MARKET.
PICKUP, in securities, is the higher yield obtained in a swap transaction-that is, the improved yield on the item being purchased relative to the selling yield on the security being liquidated.
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.
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