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Gross and Net
Gross refers to the total and Net refers to the part of the total that really matters.
Gross vs Net Income
In accounting, for a P&L (profit and loss statement, Gross profit, or Gross income, or Gross operating profit is the difference between revenue and the cost of making a product or providing a service, before deducting overheads,payroll, taxation, and interest payments. Net profit is equal to the gross profit minus overheads minus interest payable plus one off items for a given time period.
Gross Margin vs Net Margin
Gross margin is the ratio of gross profit to revenue. Net margin is the ratio of net profit to revenue.
Gross is the profit from the transaction without deduction. Net is the profit from the transaction after deducting cost of goods and cost of the sale (manpower, taxes, rent, etc.)
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What is the order of steps to make a personal budget A Reduce expenses B Categorize expenses to required versus luxury C Add all income sources D Add all expenses D Are expenses below income?
Total your income.Figure out how much money you are spending.Categorize your expenses to show where your money goes.Determine if your expenses are above or below your income.Reduce expenses in flexible categories to save or increase savings. OR 1. Add up all sources of income 2. Calculate all expenses - this may take several tries because you may forget items 3. Categorize different expenses 4. Determine if expenses are below income 5. Reduce expenses in flexible categories - required vs luxury
What would be in a typical house budget?
It purely depends on your income. If you make 100,000 vs. 10,000 you're going to spend more because you'll probably be living in a larger home which requires more cost to operate, electric, gas, water, etc. As they say - MO money more problems.
What are the credit score ranges?
it all depends on your debt ratio. some people might have good credit score, 660, and if they owe too much vs their income, it it is difficult to apply for any major loans. average credit score is between 630-660.. anything above is consider good credit score..
What are the things that an underwriter looks at when approving you for a home loan?
1) FICO score of 620 or higher 2) credit report 3) income vs overall debts 4) payment history on previous/current debts 5) employment history and length of current employment 6) collateral 7) down payment you are willing to make initially
Should a collection account be paid in payments or paid in full for a better credit score?
Paying a collection will decrease your score within the first 30 days, but keep in mind that in time your score will start to increase due to the fact that you are decreasing yoru debt vs income ratio. Your best bet is to settle at least 30% of the high credit limit.
Gross vs net?
This is often used for income. "Gross income" is the total amount of money received, before including expenses in the calculation. Once you subtract expenses, you get "net income" - your actual gain.
What is the difference between 'gross' and 'net'?
Gross and NetGross refers to the total and Net refers to the part of the total that really matters.Gross vs Net IncomeIn accounting, for a P&L (profit and loss statement, Gross profit, or Gross income, or Gross operating profit is the difference between revenue and the cost of making a product or providing a service, before deducting overheads,payroll, taxation, and interest payments. Net profit is equal to the gross profit minus overheads minus interest payable plus one off items for a given time period.Gross Margin vs Net MarginGross margin is the ratio of gross profit to revenue. Net margin is the ratio of net profit to revenue.Gross is the profit from the transaction without deduction. Net is the profit from the transaction after deducting cost of goods and cost of the sale (manpower, taxes, rent, etc.)
Gross sales price vs net sales price?
Gross sales is the total value of sales before any deductions. Net sales is what is left of the gross sales after deductions and expenses, including discounts, returns and allowances.
Net weight vs gross weight?
The gross weight includes the item and any packaging that may be on it or the vehicle that is hauling it. Net weight refers to the weight of the item only. The weight of a dump truck filled with gravel would be the gross weight, but the net weight would be weight of the gravel by itself.
Gross area vs net area of apartment Can Anybody explain it to me. I've bought the apartment in Egypt. I know the dimensions of rooms but the score is smaller than net or gross area. What does it mean?
Net is your apt unit without the common areas (hallways and corridor and elevator, gross is the addition of those are, usually about 12.5%
What is ordinary income vs net income?
The difference between ordinary income and net income is as important as the differences between tax deductions and operating expenses. Ordinary income refers to income received from salaries, interest income, etc., while net income is a specific accounting term related to financial reporting of a business operations for a specific time period. Think of ordinary income as that which is earned and reported by individual tax payers on their taxes, while net income is reported by a business. Generally speaking net income can be figured as follows: Revenues (Total dollar figure from operations) (-) Cost of goods sold = Gross Profit -- Selling, General and Administrative Costs (SG&A) (Operating expenses) = Earnings Before Interest,Taxes, and Amortization expenses (EBITA) (-) Depreciation and Amortization= Earnings Before Interest and Taxes(-) Interest Expenses (cost of borrowing money)= Earnings Before Tax (EBT)(-) Tax Expense = Net income
What's the difference between net sand vs gross sand thickness?
Gross sand is the thickness of the sand top to bottom.Net sand is the number of meters in this sand which has porosity greater than a set cutoff (~7%).Net pay is the number of meters of net sand that has movable oil in it.
How do you calculate gross vs net pay?
Gross Pay is the salary for the period or the number of hours worked multiplied by the hourly rate. Then, deductions are made from gross pay to arrive at net pay. These deductions will vary depending on where the wages were earned. Typically, there will be a combination of Federal, State and possibly local taxes. These taxes may be income taxes, social security, unemployment, disability, etc. There may also be voluntary deductions for things like health insurance or a pension plan.
What is gross domestic product (GDP)?
Gross vs. Net in EconomicsIn Economics, gross means before deductions (brutto), e.g. Gross Domestic Product (GDP) refers to the total market value of all final goods and services produced within a country in a given period of time. Net Domestic Product (NDP) refers to the(GDP) minus depreciation on a country's Capital (economics) goods. (The NDP is thus, in effect, an estimate of how much the country has to spend to maintain the current GDP.)GDP = Consumption + Investment + Government Spending + (Exports - Imports)GNP = GDP + Net Income from Assets AbroadGNP adds back (or subtracts away) from the GDP income made by domestic people in foreign countries minus income bade by foreigners domestically.GDP concern is BORDER, whereas GNP concern is PRODUCER.This link provides indepth understanding on GDP, GNP, Real GDP,Nominal GDP, GDP Deflator ....
Does the child support court look at the income of the mother if she is remarried?
In general, child support is a percentage of the obligor's net income. Unless there is a substantial difference in the parents' income (e.g., Donald Trump vs. a welfare recipient), the income of the obligee and/or the obligee's new spouse will not affect the amount of the obligor's support.
What is an example of gross pay vs net pay?
Some deductions from gross pay to arrive at net pay would be social security tax, federal withholding tax, state withholding tax and state unemployment and/or disability tax. Some other deductions, which could be made either before or after taxable gross pay might be retirement and/or insurance contributions.
How much money did Monsters vs. Aliens gross worldwide?
Monsters vs. Aliens grossed $381,687,380 worldwide.
