Gross Profit

Gross profit is the profit after the cost of goods sold has been deducted from the sales. it is an important figure for businesses.

What is the difference between Gross and Net Income?

What is the difference between Gross and Net Income? Both figures appear on the profit and loss account. Below we look at the breakdown of the profit and loss account or income statement and explain each section. What is Turnover? Turnover is the gross income of the business. It can include income from products and services it sells. An example is a computer company sells and…