abbreviationPronunciationNote that this abbreviation is pronounced as a single word rather than as individual
letters. The following abbreviations are also pronounced as words. EBITDA ( /ibɪtdɑ/)FIFO ( /faɪfoʊ/)GAAP ( /gæp/)LIFO ( /laɪfoʊ/) (Accounting: Financial statements, Income statement)
Another measure of financial leverage is the extent to which interest is covered
by EBIT plus depreciation. After deducting the costs of goods sold and other expenses, the group had total EBIT of $1.610 million. EBIT is the amount of profit that a person or company receives before interest and taxes
have been deducted.
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