nature of profit in economics The international monetary fund welcomes the progress of Brexit, but warns that the timetable is ambitious - corporate life 4. The determination of accounting earnings shall follow the principle of revenue confirmation. The current accounting practice and the law's view of earnings are still: only after the relevant conditions of the asset value increase are met, the benefits can be generated. Income and appreciation must be measured objectively, determined or unalterable, and must be verified through some business or accounting matters. In other words, the determination of accounting income should be based on the following two principles: the realization principle of income determination and the prudent principle of income determination. According to the realization principle of revenue recognition, the enterprise income should be divided into operating income and profit and loss. The determination of operating earnings must happen in selling goods or services and other key issues, and the profit and loss refers to the production of the assets held realized gains and losses, unrealized gains and losses caused by price change is not confirmed. According to the principle of steady earnings determine when a has a variety of economic business accounting methods for when the choice, should choose the most don't overestimate the method of income, it should not be overestimated revenues and should not be underestimated cost two aspects. According to data released on Wednesday by the U.S. energy information administration (EIA), the number of commercial crude stocks removed from strategic reserves fell by 649.5 million barrels to 465 million barrels, by 1.5 percent, while the previous value fell by 5.11 million barrels. Competition refers to the economic subject in order to maintain and expand their own interests and take all sorts of behavior, the behavior of self-protection and expansion efforts in product quality, price and service advantages, varieties, etc. Mr Draghi said the positive news about eurozone growth meant that the bank's council was "increasingly confident" that inflation would strengthen over the long term and become "self-sustaining". But he added that the current policy needed to be maintained to "maintain inflation", reaching the ECB's target of close to 2 percentage points.