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What is the Difference entrepreneurial profit and accounting profit?
Wiki User
∙ 11y ago
Accounting profit is simply the bottom line of a business income statement and is an absolute number, whereas an entrepreneurial profit uses the economic concept of opportunity cost. It is the profit that the entrepreneur would have earned if he or she had invested both time and money in some other enterprise.
Wiki User
∙ 11y ago
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What is the difference between profit making accounting and not for profit making accounting?
The difference between profit making accounting and not for profit making accounting is, that question should answer itself! 8^0
What is the Difference between government accounting and financial accounting?
The biggest difference is that government account is non-profit and based on funds....also called fund accounting. They do not have profits. Financial accounting tracks income and have or hope to have a profits.
What is the difference between cash accounting profit and loss and accrual accounting profit and loss?
Cash accounting and accrual accounting are two methods of accounting in cash accounting system all expenses and revenues are recorded when actual cash is paid or received while in accrual profit and loss statement, revenues and expenses are recorded when they are actually occurred and timing of receipt and payment of cash is not important.
What are some ways in which accounting for health care organizations especially not-for-profit ones tends to differ from accounting in other industries?
accounting for healthcare organizations in not-for-profit ,tend to differ from accounting in other industries.
What is the advantage of accounting profit?
utfyvkjkhyuboy
What is the difference between profit making accounting and not for profit making accounting?
The difference between profit making accounting and not for profit making accounting is, that question should answer itself! 8^0
In accounting profit is the difference between what?
difference between revenue and costs
What is the Difference between government accounting and financial accounting?
The biggest difference is that government account is non-profit and based on funds....also called fund accounting. They do not have profits. Financial accounting tracks income and have or hope to have a profits.
What is the difference between cash accounting profit and loss and accrual accounting profit and loss?
Cash accounting and accrual accounting are two methods of accounting in cash accounting system all expenses and revenues are recorded when actual cash is paid or received while in accrual profit and loss statement, revenues and expenses are recorded when they are actually occurred and timing of receipt and payment of cash is not important.
Is economic profit always less than accounting profit?
No economic profit is not always less than accounting profit; However, if accounting profit is less than economic profit the business would exit the industry.
Difference between accounting profit and economist's profit?
The accounting profit is the difference between total revenue and total cost excluding the economic cost (opportunity cost) of owner-supplied resources such as time and capital. At the other hand, In the economic cost, we include the opportunity cost in our calculations. · When total revenue exceeds both explicit and implicit costs, the firm earns economic profit. · Economic profit is smaller than accounting profit Another answer culed be: Economic Profit is slightly different than accounting profit, which merely the firm's total revenues minus its total costs. Economic profit is defined as total revenues minus total operating costs minus opportunity cost. Opportunity cost is defined as the cost of the profits you forgo by not doing another activity. For example the opportunity costs of opening a lemonade stand is equal to the difference between the accounting profits of the lemonade stand minus the accounting profits of a more profitable hot dog stand.
Is economic profit equal to accounting profit?
no
The test of an entrepreneurial decision is whether or not?
The test is whether or not the decision results in a profit.
What are some ways in which accounting for health care organizations especially not-for-profit ones tends to differ from accounting in other industries?
accounting for healthcare organizations in not-for-profit ,tend to differ from accounting in other industries.
What is the advantage of accounting profit?
utfyvkjkhyuboy
What is the difference between manual accounting and tally accounting?
what is the difference between manual accounting and tally accounting?
The difference between accounting nations and accounting commerce?
the difference between accounting nations and accounting commerce
