What's The Difference Between Profit And Gain?


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Steven Vakula Profile
Steven Vakula answered
Profit is the difference between Sales and what the product sold (Cost of Good Sold). Then this amount is further reduced by General & Administrative Expenses to arrive at Net Profit. Net Profit can be affected in a non-operating manner by Gain from the sale of Investments, Assets or other like-kind items which is treated as a separate line item from the calculation of Profit and Net Profits from Operations.
Anonymous Profile
Anonymous answered
Profit is excess of revenue over expenditure for a particular accounting period where as gain means profit that arises from events or transactions which are not incidental to a business.

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