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Profit (accounting)
Profit, in accounting, is an income distributed to the owner in a profitable market production process (business). Profit is a measure of profitability which is the owner’s major interest in income formation process of market production. There are several profit measures in common use. Income
Income
formation in market production is always a balance between income generation and income distribution. The income generated is always distributed to the stakeholders of production as economic value within the review period. The profit is the share of income formation the owner is able to keep to himself/herself in the income distribution process. Profit is one of the major sources of economic well-being because it means incomes and opportunities to develop production
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Economics
Economics
Economics
(/ɛkəˈnɒmɪks, iːkə-/)[1][2][3] is the social science that studies the production, distribution, and consumption of goods and services.[4] Economics
Economics
focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics
Microeconomics
analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, saving, and investment) and issues affecting it, including unemployment of resources (labour, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies)
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Economic Value Added
In corporate finance, economic value added (EVA) is an estimate of a firm's economic profit, or the value created in excess of the required return of the company's shareholders. EVA is the net profit less the equity cost of the firm's capital. The idea is that value is created when the return on the firm's economic capital employed exceeds the cost of that capital. This amount can be determined by making adjustments to GAAP accounting. There are potentially over 160 adjustments but in practice only several key ones are made, depending on the company and its industry. EVA is a service mark of Stern Value Management.[1]Contents1 Calculation 2 Comparison with other approaches 3 Market value added 4 Process-based costing 5 See also 6 References 7 External linksCalculation[edit] EVA is net operating profit after taxes (or NOPAT) less a capital charge, the latter being the product of the cost of capital and the economic capital
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Ludwig Von Mises
Ludwig Heinrich Edler
Edler
von Mises[1] (/ˈmiːziːz/;[2][better source needed] German: [ˈluːtvɪç fɔn ˈmiːzəs]; 29 September 1881 – 10 October 1973) was an Austrian-American theoretical Austrian School
Austrian School
economist. Mises wrote and lectured extensively on behalf of classical liberalism. He is best known for his work on praxeology, a study of human choice and action. Mises emigrated from Austria to the United States in 1940. Since the mid-20th century, the libertarian movement in the United States has been strongly influenced by Mises's writings.[citation needed] Mises's student, Friedrich Hayek, viewed Mises as one of the major figures in the revival of liberalism in the post-war era
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Special
Special
Special
or the specials or variation, may refer to:.mw-parser-output .tocright float:right;clear:right;width:auto;background:none;padding:.5em 0 .8em 1.4em;margin-bottom:.5em .mw-parser-output .tocright-clear-left clear:left .mw-parser-output .tocright-clear-both clear:both .mw-parser-output .tocright-clear-none clear:none Contents1 Policing 2 Literature 3 Film and television 4 Music4.1 Albums 4.2 Songs5 Computing 6 Other uses 7 See alsoPolicing[edit] Specials, Ulster
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International Standard Book Number
The International Standard Book
Book
Number (ISBN) is a numeric commercial book identifier which is intended to be unique.[a][b] Publishers purchase ISBNs from an affiliate of the International ISBN Agency.[1] An ISBN is assigned to each separate edition and variation (except reprintings) of a publication. For example, an e-book, a paperback and a hardcover edition of the same book will each have a different ISBN. The ISBN is ten digits long if assigned before 2007, and thirteen digits long if assigned on or after 1 January 2007. The method of assigning an ISBN is nation-specific and varies between countries, often depending on how large the publishing industry is within a country. The initial ISBN identification format was devised in 1967, based upon the 9-digit Standard Book
Book
Numbering (SBN) created in 1966
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Anwar Shaikh (Economist)
Anwar M. Shaikh (born 1945) is a Pakistani American economist working in the classical tradition. He is currently Professor of Economics at the Graduate Faculty of The New School
The New School
in New York City.[1] His work in political economy has focused on the economic theory and empirical patterns of developed capitalism. He has written on international trade, finance theory, political economy, U.S. macroeconomic policy, the welfare state, growth theory, inflation theory, crisis theory, inequality on the world scale, and past and current global economic crises.Contents1 Biography 2 Work2.1 Critique of perfect competition 2.2 Theory of the profit rate 2.3 Empirical measures of profit 2.4 Production function critique 2.5 Capitalism: Competition, Conflict, Crises3 Selected publications 4 References 5 External linksBiography[edit] Shaikh was born in Karachi, in 1945
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Digital Object Identifier
In computing, a digital object identifier (DOI) is a persistent identifier or handle used to identify objects uniquely, standardized by the International Organization for Standardization (ISO).[1] An implementation of the Handle System,[2][3] DOIs are in wide use mainly to identify academic, professional, and government information, such as journal articles, research reports and data sets, and official publications though they also have been used to identify other types of information resources, such as commercial videos. A DOI aims to be "resolvable", usually to some form of access to the information object to which the DOI refers. This is achieved by binding the DOI to metadata about the object, such as a URL, indicating where the object can be found. Thus, by being actionable and interoperable, a DOI differs from identifiers such as ISBNs and ISRCs which aim only to identify their referents uniquely
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Profit Motive
In economics, the profit motive is the motivation of firms that operate so as to maximize their profits. Mainstream microeconomic theory posits that the ultimate goal of a business is to make money. Stated differently, the reason for a business’s existence is to turn a profit. The profit motive is a key tenet of rational choice theory, or the theory that economic agents tend to pursue what is in their own best interests. Accordingly, businesses seek to benefit themselves and/or their shareholders by maximizing profits. As it extends beyond economics into ideology, the profit motive has been a great matter of contention.Contents1 Economics 2 Criticisms 3 Counter-criticisms 4 See also 5 ReferencesEconomics[edit] Theoretically, when an economy is fully competitive (i.e. has no market imperfections like externalities, monopolies, information or power imbalances etc), the profit motive ensures that resources are being allocated efficiently
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Profit Model
The profit model is the linear, deterministic algebraic model used implicitly by most cost accountants. Starting with, profit equals sales minus costs, it provides a structure for modeling cost elements such as materials, losses, multi-products, learning, depreciation etc. It provides a mutable conceptual base for spreadsheet modelers
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Return On Equity
In corporate finance, the return on equity (ROE) is a measure of the profitability of a business in relation to the book value of shareholder equity, also known as net assets or assets minus liabilities. ROE is a measure of how well a company uses investments to generate earnings growth.Contents1 The formula 2 Usage 3 Sustainable growth 4 The DuPont formula 5 See also 6 Notes 7 External linksThe formula[edit] R O E = Net Income Book Value of Equity displaystyle ROE= frac text Net Income text Book Value of Equity [1]ROE is equal to a fiscal year net income (after preferred stock dividends, before common stock dividends), divided by total equity (excluding preferred shares), expressed as a percentage. Usage[edit] ROE is especially used for comparing the performance of companies in the same industry
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Profitability Index
Profitability index
Profitability index
(PI), also known as profit investment ratio (PIR) and value investment ratio (VIR), is the ratio of payoff to investment of a proposed project. It is a useful tool for ranking projects because it allows you to quantify the amount of value created per unit of investment. The ratio is calculated as follows: Profitability index = PV of future cash flows Initial investment displaystyle text Profitability index
Profitability index
= frac text PV of future cash flows text Initial investment Assuming that the cash flow calculated does not include the investment made in the project, a profitability index of 1 indicates breakeven. Any value lower than one would indicate that the project's present value (PV) is less than the initial investment
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Gross Sales
In bookkeeping, accounting, and finance, Net sales are operating revenues earned by a company for selling its products or rendering its services. Also referred to as revenue, they are reported directly on the income statement as Sales
Sales
or Net sales. In financial ratios that use income statement sales values, "sales" refers to net sales, not gross sales. Sales
Sales
are the unique transactions that occur in professional selling or during marketing initiatives. Revenue
Revenue
is earned when goods are delivered or services are rendered.[1] The term sales in a marketing, advertising or a general business context often refers to a free in which a buyer has agreed to purchase some products at a set time in the future
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Net Sales
In bookkeeping, accounting, and finance, Net sales are operating revenues earned by a company for selling its products or rendering its services. Also referred to as revenue, they are reported directly on the income statement as Sales
Sales
or Net sales. In financial ratios that use income statement sales values, "sales" refers to net sales, not gross sales. Sales
Sales
are the unique transactions that occur in professional selling or during marketing initiatives. Revenue
Revenue
is earned when goods are delivered or services are rendered.[1] The term sales in a marketing, advertising or a general business context often refers to a free in which a buyer has agreed to purchase some products at a set time in the future
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Monopoly
A monopoly (from Greek μόνος mónos ["alone" or "single"] and πωλεῖν pōleîn ["to sell"]) exists when a specific person or enterprise is the only supplier of a particular commodity. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly which consists of a few sellers dominating a market.[2] Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit.[3] The verb monopolise or monopolize refers to the process by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller
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Political Economy
Political economy
Political economy
is the study of production and trade and their relations with law, custom and government; and with the distribution of national income and wealth. As a discipline, political economy originated in moral philosophy, in the 18th century, to explore the administration of states' wealth, with "political" signifying the Greek word polity and "economy" signifying the Greek word "okonomie" (household management)
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