Profit 0.0 / 5 ? BusinessTheme 2: Section 8 - Managing financeA2/A-levelEdexcel Created by: amahmood119Created on: 17-09-20 19:23 Percentage Change in Profit = (Current year's profit - Previous year's profit) / Previous year's profit X 100 1 of 10 Gross Profit = Total revenue - Cost of sales 2 of 10 Operating profit = Gross profit - Other operating expenses 3 of 10 Net profit = Operating profit - Interest 4 of 10 What does a profit and loss account show? Money coming in (revenue) and money going out (expenses) over a period of time. 5 of 10 Benefits of statement of comprehensive income: Spotting trends and shows financial position 6 of 10 Disadvantage of statement of comprehensive income: Misleading if it covers half an accounting year and PLC's have to publish them. 7 of 10 The acronym for a statement of comprehensive income ? R,C,G,O,O,F,P,T,D,R 8 of 10 What does a statement of comprehensive income look like? (2) Operating expenses, operating profit 9 of 10 What does a statement of comprehensive income look like? (3) Finance costs (interest), net profit (before tax) 10 of 10
Business 2.3.1 - Calculating Gross, Operating and Net profit + Statement of comprehensive income 4.0 / 5 based on 1 rating
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