Types of income of enterprises and individuals
In the general sense, income means all types of income in the form of cash or tangible assets in favor of individuals and legal entities as a result of their economic activities.
The income of legal entities is related to capitalenterprise. These are all cash receipts that are related to the sale of goods (performance of work or provision of services), as well as other sales and non-productive activities. The resulting revenues lead to an increase in assets and an increase in equity. The income of individuals implies the receipt of certain material benefits in the course of their economic activities.
Types of income- the concept of a multicomponent. It is necessary to understand that for the competent management of financial resources, it is necessary to delineate such separate categories as income, cash savings and profit.
Types of income as financial and economic categories can be defined as follows.
Income- is the flow of funds that come to the disposal of an enterprise or an individual as a result of the distribution of national income.
Gross incomein international practice - this is the excess of revenuefrom all types of realization over expenses of means in structure of the cost price of realized production. This is the main source of accumulation of financial resources. In the Russian practice, gross income is understood to mean all funds coming from all types of activities at the disposal of the enterprise.
According to accounting documents types of income are classified into three main groups: from ordinary activities, as well as the so-called non-operating and operational ones.
All types of income organizations are associated with grossincome. Revenue from sales is often referred to as gross income from the sale of manufactured goods. Thus the total sum of all receipts from kinds of activity is considered as the total income of the enterprise. Gross income is expressed in the monetary savings of the enterprise.
Monetary accumulation is formed not only in the form ofrevenues from the results of operations, but also as depreciation charges, reserve and other funds. Special funds are put at the disposal of organizations along with net profit. The main part of cash savings is profit.
Revenues from sales are often referred to asgross income from sales, and the total amount of all revenues from activities is called gross income of the enterprise. It is the result of financial activity, reflected in the balance sheet of the enterprise. Gross income is based on the monetary savings of an economic entity. The types of income are directly related to the types of profits.
Profit depending on characteristics and stagesits revenue is gross (balance sheet), profit from the sale of products (services), from investment activities, financial activities, the sale of fixed assets of the enterprise and other property, as well as non-operating income.
The types of income are divided into cumulative, average and marginal.
The aggregate (gross) is the product of the price ofnumber of products sold. Average - income per unit of sold products. Limit - characterizes the increase in the total volume of production per unit of output, with growth.
On the basis of dispositions, profit is divided into taxable, remaining at the disposal of the enterprise, used, withdrawn, undistributed.
Types of income of individuals are moresimplicity. The main here is the tax on personal income (the accepted reduction in personal income tax). It is calculated as a percentage of the total, after deducting documented costs.
Also, the income of individuals is considered to be winningsand prizes received during promotional events; interest income on bank deposits in excess of the amount calculated by the Central Bank; the amount of interest savings on the receipt of credit in the event of exceeding the amount established by the Tax Code; funds from participation in the activities of organizations in the form of dividends and some other categories established by law.