Net assets
Assets minus liabilities (same as equity).
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Net assets accounting
The GAAP required method of organizing the equity section of a non-profit organization into three classes of net assets (a) unrestricted, (b) temporarily restricted, and (c) permanently restricted. This method of accounting is more effective in meeting the Statement of Financial Accounting Standards (SFAS) No. 117 goal of informing the reader about donor restrictions than the fund accounting method.
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Net book value
See Book value
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Net income
The amount by which total revenues exceed total expenses, often called the "bottom line".
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Net loss
What remains when total expenses exceed total revenues.
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Net Profit
Net Income
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Net sales revenue
Gross sales revenue less cash discounts, returns, and allowances.
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Non current asset
An asset that is expected to be of service to an entity for more than one year.
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Non current liability
A liability that is expected to be outstanding longer than one year. Long-term liability.
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Non profit organization
An incorporation that has no owners and is granted exempt status from income taxes by the federal and state governments. Usually granted for charitable, educational, scientific, religious or governmental organizations.
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Normalized earnings
Earnings (net profit) that have been adjusted to take into consideration true depreciation, management salaries, etc., in order to gain a more accurate picture of net profit. Used in valuation formulas to determine the selling price of a business.
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Note
A written obligation to pay a specific sum of money, within a specific time period, at a certain rate of interest.
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Note payable
A written obligation to pay a specific sum of money that is entered into by an entity and set up as a short or long-term liability.
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Note receivable
An amount owed to an entity that is supported by a written obligation to pay and set up as a current asset.
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