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Glossary of Key Terms

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Term Definition
GAAP: Generally Accepted Accounting Principles

The standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards or standard accounting practice.


Characteristics, dispositions, affinities and skills of a person.


A process that provides direction or authority for the well being of the school.

Governing Body

The group that is empowered with a defined level of influence and/or authority to exercise oversight for policies pertaining to planning, financial health, academic excellence, and mission fidelity of the school.

Guidance Service

Advice and direction on vocational, educational or emotional issues or concerns given to students by a designated school counselor or through a designated school program.