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Pocket Sense is the ultimate guide to managing your money. Personal finance – with all its confusing forms, situation-specific information, and anxiety-inducing processes – can be one of the most overwhelming parts of growing up. It’s our goal to make it simple, with expert information on how to decode your taxes, keep track of spending and stay financially responsible.
And don’t worry, we understand that personal finance runs a wide spectrum: Whether you’re just looking to get some basic tips on saving or you need specific answers on financing a home or planning for retirement, we’ve got you.
We’re here to provide relevant information for every financial situation and set you on the path toward financial stability. Source
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| Language | English |
| Country | United States of America |
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What Are Acccounts Receivable (AR)? Definition, Meaning & Examples
Accounts receivable or “AR” is a firm’s income that’s still on the horizon. Services have been provided or products have been sold on credit, so the buyer hasn’t yet paid for them. Customers may have made a down payment on the product or service, but the balance is still due and owing. In this case, the balance or remaining money owed represents accounts receivable. AR is a current asset.
Opportunity Cost: Definition, Examples & How to Calculate
Life involves a never-ending series of choices about finite resources – time, money, energy, materials – and each choice has its own opportunities and risks. In microeconomics, economists seeking to quantify the costs associated with decision-making utilize the concept of opportunity costs. For example, consider a college student’s short- and long-term opportunity costs of attending a party instead of studying for and passing a final exam.
What Is Revenue? Definition, Types, Formula & Examples
Revenue is an accounting term denoting income generated from the sales of goods and services. Companies also call it sales, and it appears on a set period’s income statement. Governments refer to income tax revenue as internal revenue, collected from taxpayers by a department of revenue, such as the IRS. Revenue is one of the critical measures of a company’s performance and is monitored closely to see whether it meets expectations. What Does Revenue Mean?
Return on Equity (ROE): Formula & What It Is
Return on equity (ROE) is a financial ratio that measures a company’s profitability and how well it generates profits, as well as its overall financial health. ROE is the return produced by the company’s net assets. ROE has become more commonly used since the late 1970s, according to the Federal Reserve Bank of New York. A company’s ROE is separate and different from its return on assets, or “ROA.” What Is Return on Equity (ROE)? ROE is a measure of a corporation’s profitability over time.
What Is a Stakeholder? Definition, Types & Examples
A stakeholder is a party who has any interest in an entity’s business, enterprise or project, and may be affected by its performance or outcome, states the Cornell Law School’s Legal Information Institute. That party could be a supplier, employee, investors including shareholders, the government or the community. In addition, customers may also be considered as stakeholders. So being a stakeholder has to do with more than just money.
What Is Net Income (NI)? Definition, Formula & How to Calculate
Net income is the amount that a person or business makes after deducting all the relevant expenses and taxes from the revenue that entity earns, according to Investor.gov. So, in addition to taxes, one would deduct the cost of goods sold (COGS), amortization and depreciation, interest charges and expenses (including sales or operating expenses, administrative expenses and general expenses). You can easily find a business’s net income as the last line of a company’s income statement.
Return on Investment (ROI): Definition, Formula & How to Calculate
Return on investment, often referred to as “ROI,” is a metric that calculates what an investor stands to gain taking the cost of their investment into consideration. It gauges performance, the efficiency of an investment and the profitability of an investment. It can be used to compare one investment to another so you can determine the better place for your money. What Is Return on Investment?
Income Statement: What It Is, Example & How to Prepare It
An income statement, also known as a profit and loss statement or P&L statement, is an important financial statement. It contains information that’s key to managing and leading a company and to its investors as well. It itemizes a company’s expenses and income over a determined period of time, often one year. It’s a measure of a company’s financial health, and answers the question: has the business experienced a loss, or has it earned money? What’s the Purpose of an Income Statement?
Filing Your 2021 Massachusetts State Income Taxes
When preparing your individual income tax return for tax season, it’s imperative you know your status and the deadlines for tax filing. One way to meet your state tax deadline is to stay organized. Gathering the proper paperwork to help fill out the Massachusetts state tax forms will make everything go a lot easier. Who Must File Massachusetts Income Taxes?