What do you call of an amount received minus the amount spent?

Net Income – Net Income equals revenue minus expenses, taxes, depreciation and interest. Non-Cash Expense – Does not require cash outlay, e.g. – depreciation.

What do you call the amount left?

In mathematics, the remainder is the amount “left over” after performing some computation. In arithmetic, the remainder is the integer “left over” after dividing one integer by another to produce an integer quotient (integer division).

What are the accounting terms?

Basic Accounting Terms

• Accounts Payable. Accounts payable refers to the money a business owes to its suppliers, vendors, or creditors for goods or services bought on credit.
• Accounts Receivable.
• Accounting Period.
• Accruals.
• Accrual Basis Accounting.
• Assets.
• Balance Sheet.
• Capital.

What are the four types of expenses?

Terms in this set (4)

• Variable expenses. Expenses that vary from month to month (electriticy, gas, groceries, clothing).
• Fixed expenses. Expenses that remain the same from month to month(rent, cable bill, car payment)
• Intermittent expenses.
• Discretionary (non-essential) expenses.

What is the amount of money left over after paying all of the business expenses?

Net profit is also known in business as the bottom line. This is the amount of money left over after paying all of the business expenses. In business, net profit is very important because it tells you how profitable the company is after all costs have been paid.

What does remaining balance due mean?

Balance Due means any balance which payment has been required in a previous statement and has not been paid.

What is basic accounting term?

Accounting — the process of recording, assessing, and communicating financial transactions — helps individuals and organizations understand their financial health. Accountants do this work by keeping track of expenses, profits, and losses, making use of this accounting formula: Assets = Liability + Equity.

How do you categorize your expenses?

The Essential Budget Categories

1. Housing (25-35 percent)
2. Transportation (10-15 percent)
3. Food (10-15 percent)
4. Utilities (5-10 percent)
5. Insurance (10-25 percent)
6. Medical & Healthcare (5-10 percent)
7. Saving, Investing, & Debt Payments (10-20 percent)
8. Personal Spending (5-10 percent)

How do you classify expenses?

Types of Expenses

1. Operating. Cost of Goods Sold (COGS) It includes material cost, direct. Marketing, advertising, and promotion. Salaries, benefits, and wages. Selling, general, and administrative (SG&A) It includes expenses such as rent, advertising, marketing.
2. Non-operating. Interest. Taxes. Impairment charges.

What is revenue netting?

The top line of every business’s income statement is its gross revenue, or how much money the company made before anything is taken out. Net revenue is how much of the gross revenue is left over after deducting costs and losses, and it’s used to pay for business operations or the cost of production.

What are considered discretionary expenses?

A discretionary expense is a cost that a business or household can survive without, if necessary. Discretionary expenses are often defined as nonessential spending. Meals at restaurants and entertainment costs are examples of discretionary expenses.