Use this accounting resource to improve your accounting knowledge and bookkeeping understanding. All of these accounting terms have been reviewed and are written so they can be understood for a wide range of accountants, bookkeeppers, cpas professionals.
Please pick a letter to proceed to the terms associated with that letter.
|Net income is also called net profit or earnings. Net income is the difference between a company's gross profit and its total expenses. For example, if gross profit of a company is $400,000 while expenses are $300,000, the net income would be $100,000. The net income is found at the bottom of the income statement and often times referred to as "The Bottom Line" by business owners.|