Net Income
Net income is the profit remaining after all expenses, taxes, and interest have been deducted from total revenue. It’s the bottom line of the income statement and reflects the company’s true profitability. A positive net income indicates gain, while a negative figure represents a net loss.
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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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