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Gearing (Financial): the ratio of debt capital to ownership claim.

General Purpose Financial Statements: documents containing accounting information which would be expected to be of interest to a wide range of user groups. For a limited liability company there would be: a balance sheet, a profit and loss account, a statement of recognised gains and losses and a cash flow statement.

Going Concern Basis: the assumption that the business will continue operating into the foreseeable future.

Goodwill: goodwill on acquisition is the difference between the fair value of the amount paid for an investment in a subsidiary and the fair value of the net assets acquired.

Gross: before making deductions.

Gross Margin: sales minus cost of sales before deducting administration and selling expenses (another name for gross profit). Usually applied when discussing a particular line of activity.

Gross Margin Ratio: gross profit as a percentage of sales.

Gross Profit: sales minus cost of sales before deducting administration and selling expenses (see also gross margin).

Group: economic entity formed by parent and one or more subsidiaries.