View source for Gross profit

[[Gross profit]] is [[net sales]] less [[cost of goods sold]].


==Definitions==
According to [[College Accounting: A Practical Approach by Slater (13th edition)‎]],
:[[Gross profit]]. [[Net sales]] less [[cost of goods sold]].

==Related concepts==
*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
*[[Net profit]]. The result after taking expenses away from the Gross Profit or Loss. 
*[[Income]]. Money that is earned by a business through the sale of products or services.
*[[Profit]]. The difference between income earned and expenses paid. The greater the profit the better for business.

==Related coursework==
*[[Principles of Accounting]]. 

[[Category: Accounting]][[Category: Articles]]