Profit and Loss/Income Statement Formulas - IB Bus Man SL 1
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7 Terms
1
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Gross surplus
sales revenue - COS
2
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Cost of sales
opening stock + purchases - closing stock
3
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Surplus/profit before interest
gross surplus/profit - total expenses
4
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Surplus/profit before tax
Surplus/profit BI - Surplus/profit BT
5
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Surplus/profit for period
surplus/profit BT - tax
6
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retained surplus/profit
surplus/profit for period
7
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sales revenue/sales turnover
selling price * quantity sold