What is difference between gross profit and net profit?

Posted by : Rakesh Sinha
Posted On : 9/13/2013 2:26:35 AM
Posted As :Question Answers
Category :Accounting
View : 572
                 
Gross profit is the difference between Sales and Cost of Sales. Cost of Sales is the purchase price of the goods to be sold together with the cost of getting them ready for sale. Net profit remains after all expenses except for profit tax have been charged to the gross profit. These may include Staff salaries, rent, rates, motor expenses, auditors remuneration etc.
 
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