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 […]

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 […]

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 […]

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 […]

How To Find Free Accounting Software

Accountancy is an important element of the day-to-day lives of individuals as well as business enterprises. Through accounting, an individual or business can keep an eye on its daily financial transactions. If you are a working person, you will most likely be earning income. Your income is going to be used to finance your expenditure […]