Your financial statements are an essential part of your business, and are needed for keeping track of your performance, communicating with lenders, investors and shareholders and preparing tax returns ...

"Gross receipts" refers to the total amount of revenue you take in, while "income" refers to how much you keep, based on your expenses, deductions and other accounting factors. Understanding what goes ...

Gross income is the total of all income you receive before taxes. It’s also called pre-tax income. Net income is your income after taxes (or take-home pay). Your gross income figure will always be ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

Both metrics assess a company's profitability, but in different ways Claire Boyte-White is the lead writer for NapkinFinance.com, co-author of I Am Net Worthy, and an Investopedia contributor.

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Net and gross income are two of the most important ...

Recognizing and reporting revenue are critical and complex problems for accountants. Many investors also report their income, ...