BUNDLE OF BILLS

Profit = Total Revenue – Total Costs

An example of a financial statement is an income state ment so the overall cash flow in the business

There are two types of profit Gross Profit The profit on buying and selling the inventory (stock). Profit for the Year The final profit for the business before tax is deducted. Gross Profit – Expenses.

The surplus remaining after total costs are deducted from total revenue, and the basis on which tax is calculated and dividend is paid. It is the best known measure of success for a business.

5 aspects to

The concept of profit