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Gross sales are the sum of all sales during a time period. Net sales are gross sales minus sales returns, sales allowances, and sales discounts. Gross sales do not normally appear on an income statement. The sales figures reported on an income statement are net sales. [4] sales returns are refunds to customers for returned merchandise / credit ...
GFCF – Gross fixed capital formation; GL – General Ledger; GMV – Gross Merchandise Volume; GP – Gross Profit; GPO – Group purchasing organization; GRN – Goods Receipt Note; GRNI – Goods Receipt Not Invoiced; GSV – Gross Sales Value; GVC – Global value chain; GMROII – Gross Margin Return on Inventory Investment
Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC) ...
For a business, gross income (also gross profit, sales profit, or credit sales) is the difference between revenue and the cost of making a product or providing a service, before deducting overheads, payroll, taxation, and interest payments. This is different from operating profit (earnings before interest and taxes). [1]
Gross margin is a calculation of revenue less the cost of goods sold, and is used to determine how well sales cover direct variable costs relating to the production of goods. Net income/sales, or profit margin , is calculated by investors to determine how efficiently a company turns revenues into profits.
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This often is referred to as gross revenue or sales revenue. [6] Expenses - Cash outflows or other using-up of assets or incurrence of liabilities (including accounts payable) during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major operations.
Net output is an accounting concept used in national accounts such as the United Nations System of National Accounts (UNSNA) and the NIPAs, and sometimes in corporate or government accounts. The concept was originally invented to measure the total net addition to a country's stock of wealth created by production during an accounting interval.