Difference Between Gross Profit And Net Profit
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Difference Between Gross Profit And Net Profit
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Difference Between Gross Profit And Net Profit YouTube
Contents Gross profit vs net profit Profit is a measure of your company s earnings The difference between gross profit and net profit is the kinds of business expenses you subtract from those earnings Gross profit is sales less returns and allowances and cost of goods sold COGS In other words the formula for gross profit is Gross Profit = Net Sales – Cost Of Goods Sold. GP = Net Sales – COGS. Gross Profit can be found on a company’s trading account. Example. Net Sales = 1,50,000. Opening Stock = 10,000, Purchases = 1,00,000, Closing Stock = 20,000. GP = Net Sales – COGS (OS +P – CS) GP = 1,50,0000 – (10,000 + 1,00,000 – 20,000) = 60,000. Net Profit.
Difference Between Gross Profit And Net Profit With Table
Difference Between Gross Profit And Net ProfitTo understand the key difference between gross and net profit, let’s proceed to find out the fundamentals of net profit in brief. What is Net Profit? It is the profit left after the COGS, operating expenses, interest and tax have been subtracted from a company’s aggregate revenue. The biggest difference between gross profit and net profit is the subtraction of expenses While gross profit is the value of the revenue generated overall after only subtracting the cost of providing a product or service the net profit describes the total amount a business keeps after all expenses are subtracted from the earnings
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