Net loss
Net loss (or, simply, loss) is the financial result of operations when expenses total more than revenue. 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.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Net loss. The financial result of operations when expenses total more than revenue.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
