Month: July 2023

Financial Statements Are Only Interim Report

An accounting change that affects only interim periods such as in the method of recognizing advertising expenses in interim periods is acceptable only if it is preferable in the circumstances. An interim financial statement is any financial report that covers a timeframe of less than one year. The following financial information should be read in […]

Excel Formula For Profit

What is the formula for percentage profit. Example Sales 100 Cost of sales 70 Gross profit 100-70 30 Profit percentage 30100100. This is called the gross profit. Percentage profit Gross profit Sales 100 Gross profit is calculated by subtracting cost of sales from total revenue. Gross Profit Net Sales COGS Gross Profit 150000 105000 Gross […]