The AMA Dictionary of Business and Management

G

GAAP GENERALLY ACCEPTED ACCOUNTING PRINCIPLES

GAAS GENERALLY ACCEPTED AUDITING STANDARDS

Gain sharing Form of output-based incentive that links rewards with the measure of value added. VALUE ADDED is derived from the total profits minus the value of labor, raw materials, energy, and overhead and is considered a reliable index of performance.

Galloping inflation Rapid, out-of-control INFLATION that augurs an economic recession.

Game theory Mathematical approach to predicting the outcome in situations where participants have incomplete information about each other’s intentions. Introduced by JOHN VON NEUMANN and OSKAR MORGENSTERN, and developed by JOHN NASH, JOHN HARSANYI, and RICHARD SELTEN.

Gaming In business, the application of computer-based ...