Difference between revisions of "Net income"

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[[Net income]] (alternatively known as [[net profit]]; hereinafter, the ''Result'') is the financial result of [[operations]] when [[Fiscal Revenue|revenue]] totals more than [[expenses]]. The ''Result'' can also be calculated while taking [[expenses]] away from the [[gross profit]] (or loss).  
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[[Net income]] (alternatively known as [[net profit]]; hereinafter, the ''Result'') is the financial result of [[operations]] when [[Fiscal Revenue|revenue]] totals more than [[expenses]]. The ''Result'' can also be calculated while taking [[expenses]] away from the [[gross profit]] (or [[gross loss|loss]]).  
  
  
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According to [[College Accounting: A Practical Approach by Slater (13th edition)‎]],
 
According to [[College Accounting: A Practical Approach by Slater (13th edition)‎]],
 
:[[Net income]]. The financial result of [[operations]] when [[Fiscal Revenue|revenue]] totals more than [[expenses]].
 
:[[Net income]]. The financial result of [[operations]] when [[Fiscal Revenue|revenue]] totals more than [[expenses]].
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According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]],
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:[[Net income]]. Operating income plus nonoperating revenues (such as interest revenue) minus nonoperating costs (such as interest cost) minus income taxes.
  
 
==Related concepts==
 
==Related concepts==
 
*[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws.
 
*[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws.
  
==Related coursework==
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==Related lectures==
 
*[[Bookkeeping Quarter]].  
 
*[[Bookkeeping Quarter]].  
  
[[Category: Septem Artes Administrativi]][[Category: Articles]]
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[[Category: Septem Artes Administrativi]][[Category: Articles]][[Category: Accounting]]

Latest revision as of 20:06, 10 July 2020

Net income (alternatively known as net profit; hereinafter, the Result) is the financial result of operations when revenue totals more than expenses. The Result can also be calculated while taking expenses away from the gross profit (or loss).


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Net income. The financial result of operations when revenue totals more than expenses.

According to Cost Accounting by Horngren, Datar, Rajan (14th edition),

Net income. Operating income plus nonoperating revenues (such as interest revenue) minus nonoperating costs (such as interest cost) minus income taxes.

Related concepts

Related lectures