Triple bottom line

Image by/from WikiMedia Commons The triple bottom line (or otherwise noted as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and financial. Some organizations have adopted the TBL framework to evaluate their performance in a broader perspective to create greater business value. Business writer John Elkington claims to have […]

Continue reading

Net income: Meaning Of Net Income In Accounting And Business

In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is a measure of the profitability of a venture. It is an entity’s income minus cost of goods sold, expenses (e.g., SG&A), depreciation and amortization, interest, and taxes for an accounting period. It is […]

Continue reading

What Is An Invoice Used For?

An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice. These may specify that the buyer has a […]

Continue reading

Goodwill Definition And Accounting For Goodwill

Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable. Goodwill does not include identifiable assets that are capable of being separated or divided from the entity and sold, transferred, licensed, rented, or exchanged, either individually or together with a related […]

Continue reading

Cashflow Management Tips For Small Business

No matter how expertly you manage your budget, you can confidently project a surplus at the end of the year and still not have enough cash at some point during your fiscal year. That’s because money doesn’t always come in and go out smoothly from day to day or month to month. In order to […]

Continue reading