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Net

The sum that remains following all permissible deductions, including charges, expenses, discounts, commissions, or taxes.

Net assets, for example, are what remain after an individual subtracts the amount owed to creditors from his or her assets. Net pay is the salary an individual actually receives after deductions such as Income Tax and Social Security payments.

net

n., adj. the amount of money or value remaining after all costs, losses, taxes, depreciation of value, and other expenses and deductions have been paid and/or subtracted. Thus the term is used in net profit, net income, net loss, net worth, or net estate.

net

adjective clear, irreducible, leftover, remaining, residual, residuary, surplus, surviving, unexpended
Associated concepts: net assets, net balance, net capital stock, net earnings, net estate, net income, net loss, net premium, net price, net proceeds, net profit, net rents, net revenues, net value, net worth
See also: capture, earn, ensnare, gain, realize, trap
References in periodicals archive ?
First, the calculation of the income and expense statement, the net worth statement, and diagnostic financial ratios grounds the financial plan in the reality of the client's current financial profile.
After developing your net worth statement and creating a budget, you should have a pretty good hold on your financial situation and be ready to set some all-important goals.
Table 2 is an example of a net worth statement or balance sheet.
Similarly, an innocent error on a net worth statement filed in support of a loan application becomes a federal bank fraud if an associate of the borrower recalls a conversation in which the borrower happened to mention an asset value lower than the figure used on the statement.
Different conclusions have been reached about other accounting work, such as an examination of books, journals or a net worth statement related to the rendering of legal services.
Chapter 2 illustrates and describes a set of financial statements--income statement, pro forma 1040 tax form, net savings statement, net worth statement, and portfolio statement capital position--designed specifically for personal financial planning, which are then used in each of the stages.