Non-operating Income
Non-operating income includes revenue earned from activities unrelated to a company’s core operations, such as interest income, investment gains, or asset sales. It’s reported separately from operating income on the income statement to give clarity on recurring vs. one-time or peripheral sources of income.
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Non-current Liabilities
Non-current liabilities are long-term financial obligations not due within the current fiscal year. These include bonds payable, long-term loans, deferred…
Net Realizable Value
NRV is the estimated selling price of an asset, less any costs required to complete or sell it. It’s commonly…
Nominal Account
Nominal accounts are temporary accounts used to record income, expenses, gains, and losses during a period. They are closed at…
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