National income
The value of goods and services created by a country in one year. |
Similar financial terms
Federal National Mortgage Association (FNMA)The FNMA is a US government-backed corporation which purchases mortgages from lenders and resells them to investors. It is financed by the issue of debt securities. Equity shares, known as Fannie Maes, are traded on the New York Stock Exchange.
Nationalization
A government takeover of a private company.
National Futures Association (NFA)
The futures industry self regulatory organization established in 1982.
Multinational corporation
A firm that operates in more than one country.
London International Financial Futures Exchange
London International Financial Futures Exchange (LIFFE) is a London exchange where Eurodollar futures as well as futures-style options are traded.
Malcolm Balridge National Quality Award (MBNQA)
The Award is named for Malcolm Balridge, who served as Secretary of Commerce from 1981 until his tragic death in a rodeo accident in 1987. His managerial excellence contributed to long-term improvement in efficiency and effectiveness of government.
American National Standards (ANSI)
ANSI is a private, non-profit organization that administers and coordinates the U.S. voluntary standardization and conformity assessment.
Bank for International Settlements (BIS)
An international bank headquartered in Basel, Switzerland, which serves as a forum for monetary cooperation among several European central banks, the Bank of Japan, and the U.S. Federal Reserve System. Founded in 1930 to handle the German payment of World War I reparations, it now monitors and collects data on international banking activity and promulgates rules concerning international bank regulation.
Net national product
The technical term for national income, it is GNP minus capital consumption.
International Fiscal Police (INTERFIPOL)
The tax crime counterpart to INTERPOL.
International Business Company (IBC)
An IBC is a corporation formed (incorporated) under a Company Act of a tax haven, but not authorized to do business within that country of incorporation; intended to be used for global operations. Owned by member(s)/shareholder(s). Has the usual corporate attributes.
International Financial and Banking Centre (IFC)
A country identified as being a tax haven.
International Criminal Police Organization
Commonly known as INTERPOL. The network of multinational law enforcement authorities established to exchange information regarding money laundering and other criminal activities. Currently more than 130 member nations.
Earned income
The compensation from participation in a business, including normal remuneration (wages, salary and commissions) and bonuses.
Underwriting income
For an insurance company, the difference between the premiums earned and the costs of settling claims.
Taxable income
Gross income less a set of deductions such as allowances, deeds of covenants, and losses.
Spread income
Also called margin income, the difference between income and cost. For a depository institution, the difference between the assets it invests in (loans and securities) and the cost of its funds (deposits and other sources).
Net income
The company's total earnings, reflecting revenues adjusted for costs of doing business, depreciation, interest, taxes and other expenses.
Monthly income preferred security (MIP)
Preferred stock issued by a subsidiary located in a tax haven. The subsidiary relends the money to the parent.
Income Statement
This is company's accounting statement that shows its Income, Expenses, and Profit (or Loss) over a period of time. It is a picture of the financial performance of a company. It is sometimes referred to as a Profit & Loss (P&L) Statement. It allows a compay (or others) to compare its performance to that of other similar businesses. It tells shareholders how well their company is doing with respect to generating profits and earnings per share.
Premium income
The income made by an insurance company resulting from premiums paid for insurance products.
Effective gross income
Normal annual income including overtime that is regular or guaranteed. The income may be from more than one source. Salary is generally the principal source, but other income may qualify if it is significant and stable.
Household income
The total level of income earned by all the households in the economy. This will be a significant part of the overall level of National Income.
