Ordinary income refers to any income that is not capital gain. Operating income is how much revenue a company will profit.
Income and expenditure account is used by not for profit companies as they are formed for not for profit basis that's why they cannot use profit and loss account.
Profit mean that when a company sales turnover more so extra income that we get is profit. Cash flow means inflow & outflow of cash when there is any expenses or income earned.
Gross profit is the total money you made. Net income is what is left of that money after you pay all your expenses: Heat, light, employee salaries, insurance, etc.
Income statement shows only income of the concern in a particular period but Profit and loss statement shows both income and expenditure of a firm or concern for a particular period as well as it helps to know the performance of the organisation....
cost
Income is the sum of all monies coming into the company. Profit is the income less the expenses incurred by the company.
Income is what one receives; profit is whatever part of the income is left after all business expenses and costs are paid. So the difference between income and profit is the total of business expenses and costs.
No. The primary difference between for profit and not-for-profit organizations is simply their income tax treatment by the IRS.
This is the difference between Income and Expenditure in a non-profit making business, where the income exceeds expenditure
Ordinary income refers to any income that is not capital gain. Operating income is how much revenue a company will profit.
Income and expenditure account is used by not for profit companies as they are formed for not for profit basis that's why they cannot use profit and loss account.
Profit and loss is nothing but an statements which shows the net profit and net loss during a period.
Radio stations generate income from companies who pay to have their adverts on the radio. The difference between this income and the costs the radio station have, mostly people costs, is the profit
Profit mean that when a company sales turnover more so extra income that we get is profit. Cash flow means inflow & outflow of cash when there is any expenses or income earned.
There is no difference.
No difference.