PROFIT AFTER TAX Definition

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PROFIT AFTER TAX (PAT) 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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PRINCIPAL AUDITOR is the auditor responsible for the greater portion of financial statements. The principal auditor may assume responsibility for the work of other auditors or divide responsibility with the other auditors.

GIVEUP is the opposite of "pickup." A reduction in yield as a result of a swap transaction in which one security is sold and another purchased. Yield declines rather than increases as a result of the transaction.

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