Sodium silicate, commonly known as âwaterglassâ, is prominent due to wide commercial and industrial application. It is often composed of an oxygen-silicon polymer backbone housing water in molecular matrix pores. Sodium silicate products are manufactured as solids or thick liquids, depending on intended use. For instance, waterglass functions as a sealant in metal components. Lastly, although sodium silicate production is a mature industry, there is ongoing research for new applications given its heat conductive properties.
The term 'accounting' profit is quite frequently used by bookkeepers, for it is the actual revenue calculation. On the other hand, economic profit is more of an theoretical estimate. The paragraphs below highlight some differences between economic and accounting profit with examples. Economic Profit. In financial terms, it is not the excess of total accounting income over the total accounting expense. To the cost of an investment, it also adds the opportunity lost cost of another investment option.
The difference between revenue and total business expenses is known as net profit. Net profit is the last line in an income statement and is the figure that concerns most people who use such statement. Knowing how net profit measures operational efficiency and how it is related to parties associated with your business can help improve your management skills.