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2. Sales (accounting) - Wikipedia

   en.wikipedia.org/wiki/Sales_(accounting)

   Gross sales are the sum of all sales during a time period. Net sales are gross sales minus sales returns, sales allowances, and sales discounts. Gross sales do not normally appear on an income statement. The sales figures reported on an income statement are net sales. [4] sales returns are refunds to customers for returned merchandise / credit ...

3. Income statement - Wikipedia

   en.wikipedia.org/wiki/Income_statement

   a statement of comprehensive income or; two separate statements comprising: an income statement displaying components of profit or loss and; a statement of comprehensive income that begins with profit or loss (bottom line of the income statement) and displays the items of other comprehensive income for the reporting period. (IAS1.81)

4. Trading statement - Wikipedia

   en.wikipedia.org/wiki/Trading_statement

   The trading statement is an expanded version of sales portion of the Income statement. The trading statement's main objective is to determine sales, cost of sales and gross profit . [ 1 ] The trading statement it's part of effective book keeping within the accounting discipline .

5. Gross vs. Net Income: Understanding the Difference - AOL

   www.aol.com/gross-vs-net-income-understanding...

   But, if eliminating your advertising budget means you stop attracting new business and your annual sales fall from 25 to 20 to 15 Jet Skis over time, that temporary boost to your net income will ...

6. Financial statement - Wikipedia

   en.wikipedia.org/wiki/Financial_statement

   Reported assets, liabilities, equity, income and expenses are directly related to an organization's financial position. Financial statements are intended to be understandable by readers who have "a reasonable knowledge of business and economic activities and accounting and who are willing to study the information diligently."

7. Revenue - Wikipedia

   en.wikipedia.org/wiki/Revenue

   It is often referred to as the "top line" due to its position at the very top of the income statement. This is to be contrasted with the "bottom line" which denotes net income (gross revenues minus total expenses). [3] In general usage, revenue is the total amount of income by the sale of goods or services related to the company's operations.

8. Passive vs. Non-Passive Income: What's the Actual Difference?

   www.aol.com/passive-vs-non-passive-income...

   The tax rates for this income type are subject to regular income tax rates, which can range from 10% to 37%, depending on your income bracket. Most people who are employed end up paying tax on non ...

9. Financial accounting - Wikipedia

   en.wikipedia.org/wiki/Financial_accounting

   The balance sheet is the financial statement showing a firm's assets, liabilities and equity (capital) at a set point in time, usually the end of the fiscal year reported on the accompanying income statement. The total assets always equal the total combined liabilities and equity. This statement best demonstrates the basic accounting equation: