What is income: the variety and interconnection

In the economic sphere, the term "income" used in various values, was widely applied.Most often get an answer to the question of what revenue is as follows: is any regular cash flows as a result of any activity.Monetary benefits current period allow economic agents to form or consume the savings to increase well-being in the future.According to the application of income, there are different types of them: at the scale of the state - the national income;profits of an enterprise (at the disposal of legal entities) and the income of the subject of economic activity, the individual - personal.

value of income

What is the benefit of the state?It is the national income, which is determined by the form of manifestation of economic relations arising between the economic entities in the process of formation of the state budget.Budget fund is replenished as a result of various types of income payments of economic entities and population.

What is the household income?This question is often interested not

only specialists in the sphere of economy, but ordinary housewives.Under the personal income refers to the financial inflows of the population, received or produced by households for a certain period of time.They are divided into four main types, depending on the source of income: wages, income from business or other commercial activities (investment securities), transfer payments (scholarships, pensions and unemployment benefits) and benefits derived from informal activities.Personal income is accepted to distinguish between two specific groups: personal and household income.

Personal - is cash specific individual with individual needs and goals.Under the cash households understand the system of formation and use of financial assets of people leading a joint household and pursuing common goals.By such a group in the first place should include a family.

define what income it is often equated with profit enterprise, as it fulfills one of the most important functions of finance - the formation of funds.Revenue is recognized income influenced the increase of economic benefits from the acquisition of tangible assets, such as cash and other assets, as well as debt reduction by reducing liabilities, as a result of contributing to the growth of the capital of an economic entity.Recognition of income now is specified by the Tax Code, which stipulates that the revenue is recognized in the period in which they occurred.

role of accounting

for the effective implementation of any activity, business activity and household needs full control and accounting.Reliable information on the balance sheet items of the company is an important factor for the sustainable use of resources and maximize the profits from commercial activities.Revenue of organizations are qualified professionals - accountants, accounting functions personal funds carries the owner.It should be noted that personal finance is also an important aspect of homemaking.Only the proper use and monitoring of funds makes it possible to increase well-being.Accounting for personal remittances suggests systematization, planning, recording and analysis.

Exploring finance households and businesses, it should be noted their relationship with the state.The relationship is the participation of private funds of the population in the total national income.To get their share in the form of wages, profits from business, paying taxes and other obligatory payments, the population participates in the formation of the national income.Based on this judgment, it can be regarded as part of the financial income of the population of the country.