Difference between revisions of "Gross profit"

Latest revision as of 19:36, 4 January 2019

Gross profit is net sales less cost of goods sold if the sales are bigger than the costs. Otherwise, the result is called gross loss.

Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. 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.

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-[[Gross profit]] is [[net sales]] less [[cost of goods sold]].
+[[Gross profit]] is [[net sales]] less [[cost of goods sold]] if the sales are bigger than the costs. Otherwise, the result is called ''gross loss''.
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 ==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]].
-*[[Loss]]. A loss occurs when the gross profit of a business is less than the expenses the business has to pay to keep the business running. This is usually called a Net Loss.
-*[[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==
+==Related lectures==
-*[[Principles of Accounting]].
+*[[Bookkeeping Quarter]].
-[[Category: Accounting]][[Category: Articles]]
+[[Category: Septem Artes Administrativi]][[Category: Articles]]