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  • Term: income
    Key Words: income tax returns, additional, income, monthly, income, income, pension, income, high, income, building, residual, income, louisiana, state, income, tax, state, income, tax, form, income, tax, rebate, massachusetts, income, tax, income, tax, returns
    Related Terms: additional income, monthly income, income, pension income, high income, building residual income, louisiana state income tax, state income tax form, income tax rebate, massachusetts income tax

    income!


    income

    Comprehensive Analysis



    1) "Income" -- As to income

    in·come
    Pronunciation: 'in-"k&m also 'in-k&m or 'i[ng]-k&m
    Function: noun
    1 : a coming in : ENTRANCE, INFLUX <fluctuations in the nutrient income of a body of water>
    2 : a gain or recurrent benefit usually measured in money that derives from capital or labor; also : the amount of such gain received in a period of time <has an income of $30,000 a year>
    Pronunciation Symbols

    Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. For example, for individuals income usually means the gross amount on their payslips, i.e. amount before any tax and other deductions has been made by their employer.

    Internationally, the accounting term income is synonymous to term revenue. One of the best accounting definitions of income is the one used by International Accounting Standards Board (quotation from IFRS Framework):

    Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants. [F.70]
    • 1 Meaning within U.S. accountancy
    • 2 Meaning in economics and use in economic theory
    • 3 Distribution of Income
      • 3.1 Reference on Earnings Distribution
    • 4 Optimal gini-coefficient
    • 5 Income in Philosophy and Ethics
    • 6 Income in the United States
    • 7 See also
    • 8 References
    • 9 External links

    In U.S. business and accounting, however, income most often means the amount of money that a company earns after paying for all its costs. Outside the U.S., the term is usually profit or earnings. To calculate a company's income, it starts with its amount of revenue, deducts all costs, including such things as employees' salaries and depreciation, and the number that results is its income, which may be a negative number. This money is typically reinvested in the busine..."



    Further Data On Term for income

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