ACCOUNTING TERMINOLOGIES PART :- 3

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ALL ABOUT ACCOUNTING :- 29th BLOG

       ☆☆ACCOUNTING☆☆                                                             
Hi freinds., 🙏

Today's discuss 16th to 20th accounting terminologies..... 

                                   So let's discuss .....

16. Net Income (NI) :
Net Income is the dollar amount that is earned in profits. It is calculated by taking Revenue and subtracting all of the Expenses in a given period, including COGS, Overhead, Depreciation, and Taxes.

17. Net Margin :

Net Margin is the percent amount that illustrates the profit of a company in relation to its Revenue. It is calculated by taking Net Income and dividing it by Revenue for a given period.

18. Revenue (Sales) (Rev) :

Revenue is any money earned by the business.

19. Accounting Period :

An Accounting Period is designated in all Financial Statements (Income Statement, Balance Sheet, and Statement of Cash Flows). The period communicates the span of time that is reported in the statements.
For deeply knowledge about accounting period :

20. Allocation :

The term Allocation describes the procedure of assigning funds to various accounts or periods. For example, a cost can be Allocated over multiple months (like in the case of insurance) or Allocated over multiple departments (as is often done with administrative costs for companies with multiple divisions).


Remaining 22 terms discuss in 30th blog... 

                                  So wait my 30th blog..... 
 
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