Online Accounting Dictionary

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Gains are similar to revenues; however, gains result from incidental transactions rather than from operating activities.
General journal (book of original entry) contains records about all transactions of an entity. In particular, the journal includes such data as the event date, accounts involved, explanations and amount(s).
General ledger to sub-ledger reconciliations agree general ledger balance with the total of a sub-ledger (e.g. supporting schedules). This type is the most suitable for accounts receivables, accounts payables, fixed assets, prepaid accounts, and so on. In this case an internal source (sub-ledger) is used and compared to the ledger balance.
Generally Accepted Accounting Principles (GAAP) are common standards that indicate how to report economic events.
Gross margin is the difference between the sales revenue (i.e. revenue generated from sales) and the cost of goods sold. Gross margin shows what profit the company made after cost of goods sold, but before any other expenses (selling and administrative, etc.).

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