Difference between revisions of "Gross profit"
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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''. |
==Definitions== | ==Definitions== | ||
According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| − | :[[Gross profit]]. Net sales less cost of goods sold. | + | :[[Gross profit]]. [[Net sales]] less [[cost of goods sold]]. |
==Related concepts== | ==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]]. | *[[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]]. | ||
| − | ==Related | + | ==Related lectures== |
| − | *[[ | + | *[[Bookkeeping Quarter]]. |
| − | [[Category: | + | [[Category: Septem Artes Administrativi]][[Category: Articles]] |
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.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
Related concepts
- 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.
