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How does Congress work to prevent some of the abuses of capitalism?
Net Income
The amount of earnings left over after all expenses, including taxes and cost of goods sold, have been subtracted from total revenue, indicating the financial success or profitability of a company over a specified period.
Extraordinary Items
Events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence, significantly impacting a company's financial position.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the IFRS Foundation and the International Accounting Standards Board to ensure global consistency and transparency in financial reporting.
U.S. GAAP
Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures.
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