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Simplify.
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Net Income
The total earnings of a company after all expenses and taxes have been subtracted from total revenue.
Related Party Transaction
Financial transactions between entities that are considered to have a special relationship, such as companies with common ownership.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to standardize financial reporting around the world.
Current Assets
Assets that are expected to be converted into cash, sold, or consumed within one year or within the business's operating cycle if longer.
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