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Also Called As Net Profit Or Bottom Line Net Income Is About To Reduction Of Total Costs From Total Revenue Net Earnings Ni I Net Income Income Net Profit
Both terms deal with the positive flow of cash.
Revenue profit net income. Profit is the bottom line or net income after accounting for all expenses debts and operating costs. Let s quickly dive deeper into these two terms before we get started. Net income is a specific figure the renowned bottom line of an income statement. Revenue is the total amount of sales generated by a company while income refers to the net profit earned minus expenses.
Profit simply means revenue that remains after expenses. The formula for net income is simply total revenue minus total expenses. When we deduct the costs of goods sold from the net revenue we get the gross profit here the gross profit is 100 000 30 000 70 000. People often refer to net income as the bottom line as it is the last line item on an income statement.
So while revenue shows the total amount of money coming in income shows the total amount coming in and out. The blueprint explains each term and clarifies if there is a difference between them. From the gross profit we will deduct the operating expenses and we will get the operating profit. Revenue is divided into operating and non operating revenue profit is classified as gross and net profit and income can be classified as earned and unearned income.
Revenue is the gross amount i e. Net income and net profit are two terms frequently used by accountants and business owners alike. The first step is to calculate net revenue gross revenue sales discount 110 000 10 000 100 000.
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