Gross profit

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

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.
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.