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What is the difference between gross sales and gross receipts as far as an audit is concerned?
GROSS RECEIPTS is the total amount received prior to the deduction of any allowances, discounts, credits, etc. GROSS REVENUE is income (at invoice values) received for goods and services over some given period of time. GROSS SALES is the total revenue at invoice value prior to any discounts or allowances. Gross Receipts = Gross Revenue = Gross Receipts They are all the same thing, which is the total amount of revenue that a business generates during a year prior to taking any discounts, allowances, etc. Gross Sales - COGS = Gross Profit Gross Receipts - COGS = Gross Profit Gross Revenue - COGS = Gross Profit
Is gross receipts before deductions the same as total income?
Generally, no. Gross receipts are proceeds from sales, service contracts or the company's main revenue stream. Total income from all sources may include collected interest, royalties, or dividends from subsidiaries, which are not directly related to the company's main business.
Does gross billing and net receipts mean the same thing?
No. Gross billing is the number of units sold multiplied by the cost of that item/s. Net reciepts are the gross billing plus returns, thereby potentially reducing the gross total.
Is annual revenue the same as gross income?
yes
What is netted revenue?
In the oil and gas industry it represents the working interest owner's share of gross revenue less taxes (production and severance), conservation fees, marketing and handling fees AND their share of operating costs. The owners costs are said to be "netted" against their revenue.
What is the difference between gross sales and gross receipts as far as an audit is concerned?
GROSS RECEIPTS is the total amount received prior to the deduction of any allowances, discounts, credits, etc. GROSS REVENUE is income (at invoice values) received for goods and services over some given period of time. GROSS SALES is the total revenue at invoice value prior to any discounts or allowances. Gross Receipts = Gross Revenue = Gross Receipts They are all the same thing, which is the total amount of revenue that a business generates during a year prior to taking any discounts, allowances, etc. Gross Sales - COGS = Gross Profit Gross Receipts - COGS = Gross Profit Gross Revenue - COGS = Gross Profit
Is gross receipts before deductions the same as total income?
Generally, no. Gross receipts are proceeds from sales, service contracts or the company's main revenue stream. Total income from all sources may include collected interest, royalties, or dividends from subsidiaries, which are not directly related to the company's main business.
Is gross revenue the same as revenue?
yes
Why total revenue equal to total cost?
No total revenue is total finance in, you need to take from this the running costs of the business to get the gross profit (net sales minus the cost of goods and services sold).
Does gross billing and net receipts mean the same thing?
No. Gross billing is the number of units sold multiplied by the cost of that item/s. Net reciepts are the gross billing plus returns, thereby potentially reducing the gross total.
Is annual revenue the same as gross income?
yes
What is netted revenue?
In the oil and gas industry it represents the working interest owner's share of gross revenue less taxes (production and severance), conservation fees, marketing and handling fees AND their share of operating costs. The owners costs are said to be "netted" against their revenue.
How do you calculate total revenue?
To calculate total revenue you simply multiply the quantity by the price. Total revenue includes expenses; therefore, total revenue isn't the same as profit.
How to calculate gross profit?
Sales (or revenue, it's the same thing) - cost of goods sold= Gross Profit
Total revenue and total cost curves?
total cost= total revenue, it is the same thing in different name.
Is the total turnover the same with the total revenue?
yah
Does ebita gross operating profit and topline revenue mean the same?
Is the top line and GOP the same
