Profitability
A business (company or individual) earns money - called earning or revenue. To earn this, the entity incurs expenses - such as material, salaries, telecom costs. When you subtract the expenses from the revenue, the result is called 'profit', if it is positive, and 'loss', if negative. So the difference is - expenses are the costs incurred by a business, and loss is the difference between earnings and expenses, (if expenses are more than revenues).
The short answer is that revenue is the total of all money that a company receives from people paying for its products or services, and profit is what is left over at the very end after the company has paid for the cost of goods sold, plus all of its expenses.
Actual Costs are costs which have occurred and can be reliably measured. Budgeted Costs are costs which have been estimated, possibly by using Forecasted Costs.
Revenue at BREAK EVEN point is $0.00
One similarity between standards and budgets is they are both predetermined costs. A major difference is that companies can report inventories using standard costs but not budget costs.
difference between revenue and costs
They are synonyms.
A business (company or individual) earns money - called earning or revenue. To earn this, the entity incurs expenses - such as material, salaries, telecom costs. When you subtract the expenses from the revenue, the result is called 'profit', if it is positive, and 'loss', if negative. So the difference is - expenses are the costs incurred by a business, and loss is the difference between earnings and expenses, (if expenses are more than revenues).
Profit is revenue minus costs. In merchandising, you have to pay for the items you sell, and you charge a higher amount to your customers. The difference between what you pay for them (cost) and what you get for selling them (revenue)_ is your profit. ■
Rent revenue is income from tenants who pay rent. Operating expenses are costs you pay to operate a property, including management and collections, and may include costs of insurance and property taxes, although these are normally included under "carrying costs", along with mortgage payments.
Cost center is a non-revenue producing element of an organization where costs are separately figured and allocated and for which someone is held personally responsible. And a revenue center is distinctly identifiable place, department or unit that directly generates the revenue through sales of good or services.
Yes. Usually when people say revenue, they mean gross earnings, and since a profit is generally considered a positive number (gross earnings - costs). As long as gross earnings are great than costs, a profit is still made.
A decrease in fixed costs, while everything else remains constant, would lead to an increase in overall profitability for a business. Fixed costs are expenses that do not change regardless of the level of production or sales. If these costs decrease, the difference between total revenue and total costs would widen, resulting in higher profits. This situation often allows businesses to invest in other areas or improve their financial stability. R A decrease in fixed costs, while everything else remains constant,would lead to an increase in overall profitability for a business. Fixed costs are expenses that do not change regardless of the level of production or sales. If these costs decrease, the difference between total revenue and total costs would widen, resulting in higher profits. This situation often allows businesses to invest in other areas or improve their financial stability.ixed costs are expenses that do not change regardless of the level of production or sales. If these costs decrease, the difference between total revenue and total costs would widen, resulting in higher profits. This situation often allows businesses to invest in other areas or improve their financial stability.
Profit
shut up u neek
For the people buying (the consumers) it is better for our money. For the company supplying the product to the shop, there is no difference because prices have been set already and do not have to do with anything like this. For the shop supplying it to the people who demand the product there are many differences: Lowest price - costs are probably low - revenue is average - there is profit High - costs are high - revenue is below average - almost/no profit However this model differs from products and from suppliers. Also appointments between different suppliers and the structure of a market (are we speaking about a free-market economy or not?) are crucial elements in deciding the difference(s).
The short answer is that revenue is the total of all money that a company receives from people paying for its products or services, and profit is what is left over at the very end after the company has paid for the cost of goods sold, plus all of its expenses.