gross profit
gross profit
English Definitions:
gross profit, gross profit margin, margin (noun)
(finance) the net sales minus the cost of goods and services sold
gross profit (Noun)
net sales minus cost of goods sold.
Gross profit
In accounting, gross profit or sales profit is the difference between revenue and the cost of making a product or providing a service, before deducting overhead, payroll, taxation, and interest payments. Note that this is different from operating profit. The various deductions leading from Net sales to Net income are as follow:
gross profit
For households and individuals, gross income is the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes. It is opposed to net income, defined as the gross income minus taxes and other deductions (e.g., mandatory pension contributions). For a firm, gross income (also gross profit, sales profit, or credit sales) is the difference between revenue and the cost of making a product or providing a service, before deducting overheads, payroll, taxation, and interest payments. This is different from operating profit (earnings before interest and taxes). Gross margin is often used interchangeably with gross profit, but the terms are different. When speaking about a monetary amount, it is technically correct to use the term gross profit; when referring to a percentage or ratio, it is correct to use gross margin. In other words, gross margin is a percentage value, while gross profit is a monetary value.
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"gross profit." Kamus.net. STANDS4 LLC, 2024. Web. 7 Oct. 2024. <https://www.kamus.net/english/gross+profit>.
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