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In business, net income is an entity's income minus cost of goods sold, expenses and taxes for an accounting period. It is computed as the residual of all revenues and gains over all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. In the context of the presentation of financial statements, the IFRS Foundation defines net income as synonymous with profit and loss.

In business, net income (total comprehensive income, net earnings, net profit, informally, bottom line) is an entity's income minus cost of goods sold, expenses and taxes for an accounting period. It is computed as the residual of all revenues and gains over all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. In the context of the presentation of financial statements, the IFRS Foundation defines net income as synonymous with profit and loss.

Net income is a distinct accounting concept from profit. Net income can also be calculated by adding a company's operating income to non-operating income and then subtracting off taxes.

What is Net Income?

Net income is a generally accepted accounting principle also known as profit. While net income doesn't paint the entire picture of a company's current financial ...

Accounting for Beginners #37 / Net Income / Income Statement / Balance Sheet / Accounting Basic

https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! Accounting for ...

Lesson 6 Net Income

This video looks at how to calculate standard deductions (CPP, EI, tax) as well as other deductions (ex. union dues) and net income from gross income.

How to Determine Net Income or Loss (Accounting Principles)

Accounting Principles - How to Determine Net Income or Loss.

Net vs. Gross (Income, Pay/Salary, etc.) in One Minute: Definition/Difference, Explanation, Examples

Way too many people think they understand the difference between net and gross (so the difference between net income and gross income, the difference ...

Introduction to the income statement | Stocks and bonds | Finance & Capital Markets | Khan Academy

The income statement, revenue, gross profit, operating profit, net income, ROA and ROE. Created by Sal Khan. Watch the next lesson: ...