You are currently viewing MEASUREMENT OF BUSINESS INCOME-ALL YOU NEED TO KNOW

MEASUREMENT OF BUSINESS INCOME-ALL YOU NEED TO KNOW

MEASUREMENT OF BUSINESS INCOME-ALL YOU NEED TO KNOW

One of the most significant accounting concepts is “Concept of Income”. Similarly, measurement of a business income is also an important function of an accountant.

In General term, payment received in lieu of services or goods are called income, for example, salary received by any employee is his income. There may be different type of incomes like Gross income, Net income, National Income, and Personal income, but we are here more concerned for a business income. Surplus revenue over expenses incurred is called as “Business Income.”………..

 

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