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Income Statement Glossary

Adapted from content excerpted from the American Express® OPEN Small Business Network


Income Income generated by the business
Cost of goods What it costs the business to sell its inventory or service
Gross profit margin Revenue minus cost of goods
Operating expenses Overhead and labor expenses necessary to run the business
Total expenses Sum of overhead and labor expenses
Net profit Gross profit minus total expenses
Depreciation The amount by which the value of a company asset has fallen in a given time period
Net profit before interest Net profit minus depreciation
Interest All interest on debts
Net profit before taxes Net profit minus interest
Profit after taxes Profit minus interest. This is also referred to as the bottom line.


To Financials Toolbox


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Robertbengly Bengly, Bali, Indonesia  |  October 31, 2016
Thank you for sharing, however it seems that to be a strong company is also need to have a strong team and sometime when we have an idea to expand the business there will be need a strong team and management system,this is just sharing,thank you for your great article and this is one of the important thing is doing the business. visit also us http://www.gilibestdeal.com
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Bette Daoust  |  June 23, 2016
Thanks for the great example of a marketing strategy statement, we have been able to use this as a template for our own statement. -Dr. Bette Daoust
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Abdulkadir Muhammad  |  August 17, 2015
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Gopal krishna Debnath  |  November 28, 2013
customer is the focal person of a business, hence he/she should be properly honored and addressed. clear description of the product is very important so that actual customer get the real and to the point information.
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