Define: Gross Profit

UK Accounting Glossary

Definition: Gross Profit


Quick Summary of Gross Profit


Sales minus cost of sales before deducting administration and selling expenses (see also gross margin).



What is the dictionary definition of Gross Profit?

Dictionary Definition


Gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services. Gross profit appears on a company’s income statement and is calculated by subtracting the cost of goods sold (COGS) from revenue (sales).


Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/gross-profit/
Modern Language Association (MLA):
Gross Profit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 28, 2020 https://payrollheaven.com/define/gross-profit/.
Chicago Manual of Style (CMS):
Gross Profit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/gross-profit/ (accessed: February 28, 2020).
American Psychological Association (APA):
Gross Profit. PayrollHeaven.com. Retrieved February 28, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/gross-profit/

Definition Sources


Definitions for Gross Profit are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 23rd December 2018.