The Enterprise and Economic Development Glossary a resource of the .network library

profit:

... net profit, which is a gross amount received less overhead costs minus other exclusions and deductions calculated for a given accounting period. Profits are a residue of wealth as gains that individuals and enterprises area able to retain and possess after deducting all expenses.

Profitability is the intrinsic or managed quality of being able to maintain positive results from an enterprise operation over a period of time. It is typically measured in terms of financial gain as opposed loss. Business Dictionary.com states that profit is the ... best known measure of the success of an enterprise—more of the definition.

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The Enterprise and Economic Development Glossary a resource of the .network library

P&L:

... P&L statement (a statement of profit and loss); a financial statement of profit and loss that takes into account the revenues received and costs and expenses incurred for a specified time period; a management or financial accounting report that shows the ability of a business to generate profit; a guide for business decision makers seeking to generate profit by increasing revenues and reducing costs, thus bringing about the potential for enterprise and economic development as well as jobs creation. A P&L is an income statement from which are deducted operating expenses, includes the cost of borrowed capital, as well as taxes and the costs of goods sold. P&Ls are also referred to as income and expense statements.

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related: bottom line; balance sheet; cash flow; .network mission

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The Enterprise and Economic Development Glossary a resource of the .network library

gain:

... as opposed to a loss, that which is striven for and hoped for by one who is a risk taker dealing with financial matters or a business decision maker. A financial gain may be focused on wealth in monetary terms but it still fits within the context to possession. Income, for example, is financial gain accruing within a time frame. In general, gains are seen as positive results of attainment in competitive situations or struggles wherein there are risks to be taken. It is something that exists as a possession after being obtained as a form of reward.

In business, gain refers to an amount by which revenue exceeds the cost of operating. It shows up on the bottom line as profit. Net gain (net income) is profit.

Taking all types of enterprises into account, a gain is something of value earned from the effort of striving towards a set goal, a series of objectives, or a defined mission.

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