INCOME AFTER TAXES Definition

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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.

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PERSONAL ACCOUNTS represents money due to or due from a person or group of persons. For example, Accounts Payable - Suppliers is a personal account since this amount is payable to a supplier/suppliers.

INVESTMENT MANAGER is an individual, firm, or committee responsible for making day-to-day decisions to buy, hold, or sell assets; also known as money managers.

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