2 ms·
I think "income" is the standard accounting term in the US - in the UK the equivalent is "profit" (e.g. "P/L" vs "income statements").
by arethuza 11mo ago
I think "income" is the standard accounting term in the US - in the UK the equivalent is "profit" (e.g. "P/L" vs "income statements").
- christophilus 11mo agoI thought revenue was the standard accounting term in the US. I think of income as what I get to keep / freely reinvest, and revenue as a number that contains all kinds of hidden liabilities such as taxes, cost of sales, etc. That said, I’m (obviously) not an accountant.
- cies 11mo agoWhen I look at it as a private person I think of income as the my personal revenue: from there I have lots of costs and tax to pay. What I end up with is disposable income which I can keep/invest.