Calculate Net Income Accounting is the process of quantifying all sources of revenues, subtracting all eligible expenses, and then allocating profits or losses accordingly. It requires a keen, analytical eye to ensure accuracy and precision in calculations. The net income figure is one of the most important indicators of financial progress for businesses, as it gives an indication of their overall profitability. With proper accounting practices in place, businesses can use their net income figures to understand their financial standing and make informed decisions about their future growth.