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NET REVENUE: A common term for profit, as the difference between total revenue and total cost. When used in the real world of business wheeling and dealing, this notion of net revenue general refers to accounting profit rather than economic profit. The "net" aspect of net revenue indicates that some (that something being cost) is deducted from total or "gross" revenue. Other common terms used in this same context are net income and net earnings.
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ACCOUNTING COST An actual outlay or expenses incurred in the production of a good that shows up in a firm's accounting statements and records. Accounting cost is an explicit payment (that is, money changing hands) incurred by a firm. Accounting cost, while very important to accountants, company CEOs, shareholders, and the Internal Revenue Service, is only minimally important to economists. The reason is that economists are more interested in economic cost (also called opportunity cost), which is the value of foregone production.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market looking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for high interest rates.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Life is no brief candle to me. It is a sort of splendid torch which I have got a hold of for the moment, and I want to make it burn as brightly as possible before handing it on to future generations." -- George Bernard Shaw
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MCA
Monetary Control Act of 1980
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