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2. Good manufacturing practice - Wikipedia

   en.wikipedia.org/wiki/Good_manufacturing_practice

   Current good manufacturing practices (cGMP) are those conforming to the guidelines recommended by relevant agencies. Those agencies control the authorization and licensing of the manufacture and sale of food and beverages , [ 1 ] cosmetics , [ 2 ] pharmaceutical products , [ 3 ] dietary supplements , [ 4 ] and medical devices . [ 5 ]

3. Verification and validation - Wikipedia

   en.wikipedia.org/wiki/Verification_and_validation

   Verification is intended to check that a product, service, or system meets a set of design specifications. [6] [7] In the development phase, verification procedures involve performing special tests to model or simulate a portion, or the entirety, of a product, service, or system, then performing a review or analysis of the modeling results.

4. GMP - Wikipedia

   en.wikipedia.org/wiki/GMP

   GMP may refer to: Finance and economics. Gross metropolitan product, a measure of goods and services produced; Guaranteed maximum price, as agreed in some contracts;

5. Quality management system - Wikipedia

   en.wikipedia.org/wiki/Quality_management_system

   As with GMP, operating within this flexibility, it is the responsibility of each manufacturer to establish requirements for each type or family of devices that will result in devices that are safe and effective, and to establish methods and procedures to design, produce, and distribute devices that meet the quality system requirements.

6. Gross margin - Wikipedia

   en.wikipedia.org/wiki/Gross_margin

   In accounting, the gross margin refers to sales minus cost of goods sold. It is not necessarily profit as other expenses such as sales, administrative, and financial costs must be deducted. And it means companies are reducing their cost of production or passing their cost to customers.

7. Generally Accepted Accounting Principles (United States)

   en.wikipedia.org/wiki/Generally_Accepted...

   Realizing the need to reform the APB, leaders in the accounting profession appointed a Study Group on the Establishment of Accounting Principles (commonly known as the Wheat Committee for its chairman Francis Wheat). This group determined that the APB must be dissolved and a new standard-setting structure created.