INCOME AFTER TAXES Definition

Bookmark and Share

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.

Learn new Accounting Terms

MANAGEMENT CONTROL SYSTEM is essentially a strategic tool for holding managers accountable and responsible for their performance. Existence of such a system also provides feedback for managers to know how they perform, in which direction the organization is heading, and what type of course correction may be required to stay on course.

BACKCHARGE is to charge a person or a firm an amount of money in order to make adjustments for a previous transaction.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.