Net profit is not the same as net income. There are many things that can be deducted on a tax return form from net profit that reduce net profit down to net income.
Net Income = Sales - Gross profit Gross Profit - Cost of Production = Net Income
Net profit can be increased by income from non operating activities of business like dividend income or interest income etc.
yup it is as it is an income so we add it in the gross profit....
Profit = income - expense
Profit
Similar to the for profit world, the way to increase profit is to reduce expenses or increase income. Non profit's income tends to come from contributed income, program fees, or grants.
Net profit is not the same as net income. There are many things that can be deducted on a tax return form from net profit that reduce net profit down to net income.
Net Income = Sales - Gross profit Gross Profit - Cost of Production = Net Income
Net profit can be increased by income from non operating activities of business like dividend income or interest income etc.
yup it is as it is an income so we add it in the gross profit....
Profit-Cost=Income
Profit = income - expense
Income is what one receives; profit is whatever part of the income is left after all business expenses and costs are paid. So the difference between income and profit is the total of business expenses and costs.
In income statement. In the end of income statement you will find net profit.
Income is the sum of all monies coming into the company. Profit is the income less the expenses incurred by the company.
Profit = (profit percentage / 100) x gross income