Netnúvirðisútreikningur
Netnúvirðisútreikningur, often translated as net worth calculation, is the process of determining an individual's or entity's financial standing by subtracting liabilities from assets. Assets represent everything of value that is owned, such as cash, investments, real estate, and personal property. Liabilities, on the other hand, are all outstanding debts and obligations, including mortgages, loans, credit card balances, and any other amounts owed.
The fundamental formula for net worth is Assets - Liabilities = Net Worth. A positive net worth indicates
Calculating net worth is a crucial aspect of personal finance and business management. It provides a snapshot