It is very easy. It means that your billing is due within 15 days. Most will say Net 15 - 2% which means you can take off 2% of the price if paid within 15 days. Or the most popular is Net 30 days same as cash.
Net value of an item
I understand that "Net 30" means "due in 30 days" (Net15 & Net60 mean due in 15 or 60 days, respectively, etc), but sometimes invoices simply say "NET" with no number. In my accounting classes (25 years or so ago) I was taught that "NET" means "NET 30", so I have always assumed this to be the case. Recently a vendor demanded payment for an invoice with "NET" terms that was less about 2 weeks old. He contended that "NET" means "due immediately" Who's right?
The phrase Net 30 prox is used in the accounting field. It means that a buyers payment is due 30 days from the day they receive the shipment.
Net is the final figure after you've taken expenses off. For instance net wages is wages after tax and other deductions. Net interest is after tax is taken off. Net profit is gross profit after overheads have been deducted.
Net 15 means that the balance is due in 15 days after the date of the invoice. Net 30 means that the balance is due in 30 days after the date of the invoice. The number after the net indicates the days after when the invoice was printed that the balance is due.
Net value of an item
NOCG for cash flow analysis is Net Operating Cash Generated.
I understand that "Net 30" means "due in 30 days" (Net15 & Net60 mean due in 15 or 60 days, respectively, etc), but sometimes invoices simply say "NET" with no number. In my accounting classes (25 years or so ago) I was taught that "NET" means "NET 30", so I have always assumed this to be the case. Recently a vendor demanded payment for an invoice with "NET" terms that was less about 2 weeks old. He contended that "NET" means "due immediately" Who's right?
The phrase Net 30 prox is used in the accounting field. It means that a buyers payment is due 30 days from the day they receive the shipment.
Net is the final figure after you've taken expenses off. For instance net wages is wages after tax and other deductions. Net interest is after tax is taken off. Net profit is gross profit after overheads have been deducted.
Net 15 means that the balance is due in 15 days after the date of the invoice. Net 30 means that the balance is due in 30 days after the date of the invoice. The number after the net indicates the days after when the invoice was printed that the balance is due.
Net 15 means that the balance is due in 15 days after the date of the invoice. Net 30 means that the balance is due in 30 days after the date of the invoice. The number after the net indicates the days after when the invoice was printed that the balance is due.
Net Income = Sales - Gross profit Gross Profit - Cost of Production = Net Income
an accounting profits is the net profits of every financial transaction it can be in monetary or satisfaction of service rendered.
No proceeds from sale of building is part of cash flow statement while profit or loss on sales of building is part of net income in accrual base accounting while cash base accounting it is part of net income or loss.
Answer:Normative theory in accounting is theory about how net income 'should' be calculated. Positive accounting theory on the other hand is about observing/explaining and predicting accounting choices of firms.
The relationship between the accounting equation and the balance sheet is the NET PROFIT. ( I THINK :/ )