Revenue is the total amount of income generated by a company. 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.
Revenues minus expenses equals income.
Income minus expenses is called. Income minus expenditure is called income approach. Ordinary income refers to all income other than capital gain. Net income refers to all income minus expenses and taxes.
Revenue is also called net sales which is revenue minus any returns of purchased merchandise. The income approach classifies as a method of calculating the gross domestic product which takes into consideration the aggregate factors of. Gross income is basically revenues and gains minus expenses and losses.
Capital gain after expenses and taxes are deducted.