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Meaning / Definition of

Generally Accepted Accounting Principles

Categories: Accounting, Fundamental Analysis,

a summary of best practice in respect to the form and content of financial statements and auditors' reports, and of accounting policies and disclosures adopted for the preparation of financial information. GAAP has statutory or regulatory authority in the United States and Canada and some other countries, but not in the United Kingdom.

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Definition / Meaning of

Flash Mob

Categories: Business and Management,

A secretly-planned (usually via modern computerised social networking technology), quickly-formed, organized group of people, assembled to engage in a quirky activity, typically for the amusement and entertainment of the participants. Potentially the term may be applied to similar gatherings organized for more conventional promotional, protest or other publicity/pressure purposes, although this strays somewhat from the usual concept, in which the flash mob event is an aim in itself, rather than part of a wider campaign with a specific purpose. The expression is not new. It originated in the 1940s US underworld when it referred to a gang of thieves or confidence tricksters. The word flash has been used in various criminal contexts since the 1600s and in the original 1940s phrase flash mob, flash literally meant criminal. The modern use of the flash mob expression naturally fits the notion of flash photography, a fast or fleeting appearance, a 'flash of inspiration', and especially the recent understanding of flash in relation to quick technology such as flash memory and flash drives. See also mob.

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