In a Profit and Loss Statement what is the difference between Ordinary Net Income and Net Income?

Answer 1

There's really no difference as a practical matter. Sometimes a business will state net income from business operations as "Ordinary Net Income" and other income such as interest or investments not part of the core business operations separately. When the two are combined, it would simply be called "Net Income."

Answer 2

The bottom line is the Net income. Ordinary net income is usually from operations and can have other line items added thereto.

Answer 3

ordinary net income refers to those inflows of capital derived from regular business activities. and they occur at leat once a year. then the numbers from non-recurrign events are added to arrive at net income.

some of the non-recurrign events are: Discontinued Operations, Extraordinary Items, Effect Of Accounting Changes, other Items.
There are certain guidelines by GAAP on what is considered a non-recurring event and what isn't.

Answer 4

You mean line 31 of Schedule C, correct? Line 31 on Form 1040 is for alimony. The P & L and Schedule C are not necessarily the same. You need to ask the person who prepared the P & L sheet and Schedule C why they are different. There are differences between the GAAP and the Tax Code that will result in differences, but you need a clear explanation of what's going on, especially as large as that difference is.