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The Great Trigonometrical Survey
Budgeted Net Income
An estimate of a company's future net income over a specific period based on projected revenues and expenses.
December
The twelfth and final month of the year in the Gregorian calendar, often associated with end-of-year activities and holidays.
Retained Earnings
The portion of net income left over for the business after it has paid out dividends to its shareholders, often reinvested in the business or used to pay off debt.
Absorption Costing
An accounting method that includes all manufacturing costs—direct materials, direct labor, and both variable and fixed manufacturing overhead—in the cost of a product.
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