Gross and Net Profit
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I seem to have forgotten what they taught in secondary school between
'Gross' profit and 'Net' profit. Could someone enlighten me pls? Thnx
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just remember this ...Originally posted by PriscillaTang:I seem to have forgotten what they taught in secondary school between
'Gross' profit and 'Net' profit. Could someone enlighten me pls? Thnx
gross means everything ...
net means what's left ... (in the net) ... after taxes and deductions .... -
so gross includes overheads like rental, cost of goods, salary of staffs etc?
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not in that sense ....Originally posted by PriscillaTang:so gross includes overheads like rental, cost of goods, salary of staffs etc?
e.g.
you operate a shop ... your total takings for the month is $10000, that's your gross
you minus off all your expenses of $5000 ....
what's left's your net ... -
gross = Sales - purchase & all purchases related stuff like carriage
net = gross - expenses like depreciation, wages, advertisement etc
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there you go ...Originally posted by shinta:gross = Sales - purchase & all purchases related stuff like carriage
net = gross - expenses like depreciation, wages, advertisement etc
someone who remembers more than me ... -
Correct...Originally posted by shinta:gross = Sales - purchase & all purchases related stuff like carriage
net = gross - expenses like depreciation, wages, advertisement etc
Gross profit is calculated using the trading a/c and Net Profit is calculated using the profit and loss a/c... -
ahh.... thanks alot. was trying to do the accounts then i got stuck here. i think i must go retake my o's again. lol.
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Originally posted by PriscillaTang:ahh.... thanks alot. was trying to do the accounts then i got stuck here. i think i must go retake my o's again. lol.
dun worry u can always post in sgf -
There is always ppl here to help...Originally posted by PriscillaTang:ahh.... thanks alot. was trying to do the accounts then i got stuck here. i think i must go retake my o's again. lol. -
Sgforums is great, just that if there's more crappers and pathetic people like you, i think it will close down soon, meanwhile, it's still going strong like what fireice has said
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oh ya.. that one..
well Net profit are the profits you net with the business that you do. But GROSS Profits, well these are profits that you make from all the gross things that you do! -
U referring to me?...Originally posted by 0ut of P0int:Sgforums is great, just that if there's more crappers and pathetic people like you, i think it will close down soon, meanwhile, it's still going strong like what fireice has said
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How about gross pay and basic pay?
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oh no... accounting...