BVI Definition

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BVI is an acronym for British Virgin Islands (a major offshore banking and corporation player).

Learn new Accounting Terms

INCOME AFTER TAXES is the net profit earned by the company after deducting all expenses like interest, depreciation and tax. PAT can be fully retained by a company to be used in the business. Dividends, if declared, are paid to the share holders from this residue.

WORK CENTER, normally, is an individual production area or sub-process of an overall manufacturing process.

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