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 incomes of legal entities are connected with the capital of the enterprise. 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 multi-component. It is necessary to understand that for the competent management of financial resources, it is necessary to distinguish between separate categories such as income, cash savings and profit.

Types of income as financial and economic categories can be defined as follows.

Income is the flow of money that comes at the disposal of an enterprise or an individual as a result of the distribution of national income.

The gross income in international practice is the excess of revenues from all types of sales over the cost of funds in the cost of sales. This is the main source of accumulation of financial resources. In the Russian practice, gross income is understood as all money received from all 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 gross income. Revenues from sales are often referred to as gross income from sales of manufactured products. 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 of revenues from performance results, but also as depreciation charges, reserve and other funds. The special funds are put at the disposal of organizations together with net profit. The main part of cash savings is profit.

Revenues from sales are often referred to as gross sales revenue, and the total amount of all revenues from activities is called the 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 the characteristics and stages of its receipt 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 of the quantity sold. Average - income per unit of sold products. Limit - characterizes the increase in the aggregate volume of output per unit of output.

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 more simple. 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, minus documented costs.

Also, the incomes of individuals are winnings and prizes received during promotional activities; 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.