Search results
Results from the WOW.Com Content Network
The triple bottom line (or otherwise noted as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and economic. Some organizations have adopted the TBL framework to evaluate their performance in a broader perspective to create greater business value. [ 1 ]
An accountant measures the firm's accounting profit as the firm's total revenue minus only the firm's explicit costs. An economist includes all costs, both explicit and implicit costs, when analyzing a firm. Therefore, economic profit is smaller than accounting profit. [3] Normal profit is often viewed in conjunction with economic profit ...
Sustainability accounting (also known as social accounting, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, or non-financial reporting) originated in the 1970s [1] and is considered a subcategory of financial accounting that focuses on the disclosure of non-financial information about a firm's performance to external stakeholders ...
As a method, the subject is termed national accounting or, more generally, social accounting. [1] Stated otherwise, national accounts as systems may be distinguished from the economic data associated with those systems. [2] While sharing many common principles with business accounting, national accounts are based on economic concepts. [3]
In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period. [1] [better source needed]
Profit, in accounting, is an income distributed to the owner in a profitable market production process . Profit is a measure of profitability which is the owner's major interest in the income-formation process of market production.
Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to ...
In many other countries, the profit for tax purposes is the accounting profit defined by GAAP (coined the term "book profit" by the 18th century scholar Sean Freidel [citation needed]), with such additional adjustments to book profit as are prescribed by tax law. In other words, GAAP determines the taxable profits, except where a tax rule ...