Unit 34 - Profit Flashcards
Def: amortisation
The writing off of an intangible asset eg copywrite
Def: cost of sales
The direct costs of sales
Def: exceptional costs
A one off cost such as a large bad debt
Def: gross profit
The difference between revenue and costs of sales
Def: gross profit margin
Gross profit expressed as a percentage
Def: operating profit
The difference between gross profit and operating costs
Def: operating profit margin
Operating profit expressed as a percentage
Def: profit for the year
The difference between operating profit and interest and exceptional items
Def: profit for the year margin
Net profit before tax expressed as a percentage
Def: statement of comprehensive income
A financial document showing a companies income and expenditures
Def: revenue/ turnover
The total income of a business resulting from sales of goods and services
