Net Income vs Gross Income: Differences and Calculations
The annual net income definition is your company’s profitability over a year. The figure is a crucial indicator for investors and stakeholders to assess financial performance and guide long-term strategic planning. For instance, in a business outside the manufacturing industry that does not generally report the cost of goods sold, gross income may also be […]
Understanding Your Monthly HOA Financial Reports
All things considered, an audit provides reasonable assurance that the numbers are good. An audit will assess internal controls and provide a high degree of comfort to the board and to the unit owners. So, the HOA also reserves some rights in case they do not receive a timely fee from some members. It may […]