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Thread: Michele Bachmann announces presidential campaign

  1. #391
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    Re: Michele Bachmann announces presidential campaign

    Answers.com - Can a business earn a gross profit but incur a net loss


    Do some research, ask other people who work in accounting, finance, economics, executive management, etc. We aren't distorting facts or digging deep to support our statements. You guys are extremely ill informed... I honestly find it it shocking, and feel it's not right that people in the same country as me cling to such ignorance.

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    Re: Michele Bachmann announces presidential campaign

    Quote Originally Posted by SheWolf View Post
    What does RTRF stand for?
    RTFT. Read the ****ing thread.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  3. #393
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    Re: Michele Bachmann announces presidential campaign

    Quote Originally Posted by SheWolf View Post
    Answers.com - Can a business earn a gross profit but incur a net loss

    Do some research, ask other people who work in accounting, finance, economics, executive management, etc. We aren't distorting facts or digging deep to support our statements. You guys are extremely ill informed... I honestly find it it shocking, and feel it's not right that people in the same country as me cling to such ignorance.
    Who was talking about "Gross Profit"? I am an accountant BTW.
    Haymarket's "support" of the 2nd Amendment, a right he believes we never had.
    Quote Originally Posted by haymarket View Post
    no. You cannot lose rights you do not have in the first place. There is no such thing as the right to have any weapon of your choice regardless of any other consideration. It simply does not exist.

  4. #394
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    Re: Michele Bachmann announces presidential campaign

    Quote Originally Posted by Lachean View Post
    Who was talking about "Gross Profit"? I am an accountant BTW.
    Join the club. Shewolf isn't wrong though. A company can be making a profit but report a loss. Back out transactions such as overly generous reserve accounts and stock buy backs and a company that reports a loss now can have a tidy profit. Furthermore, GAAP requires recognizing losses that are determinable in both amount and time. So even if the company actually hasn't incurred it, it reports the loss. If that loss is sufficently large enough to wipe out a profit, then it reports a net loss even if for the year that outflow hasn't been paid and they actually made money. There are plenty of ways Shewolf isn't wrong. She just didn't use the strongest arguments out there.

    Furthermore:
    Having revenue != making profits.
    Is wrong. A company can pull in $500 million in revenue but have $600 million in costs. Revenue =/= Profit.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Michele Bachmann announces presidential campaign

    Quote Originally Posted by obvious Child View Post
    Join the club. Shewolf isn't wrong though. A company can be making a profit but report a loss. Back out transactions such as overly generous reserve accounts and stock buy backs and a company that reports a loss now can have a tidy profit. Furthermore, GAAP requires recognizing losses that are determinable in both amount and time. So even if the company actually hasn't incurred it, it reports the loss. If that loss is sufficently large enough to wipe out a profit, then it reports a net loss even if for the year that outflow hasn't been paid and they actually made money. There are plenty of ways Shewolf isn't wrong. She just didn't use the strongest arguments out there.

    Furthermore:
    Is wrong. A company can pull in $500 million in revenue but have $600 million in costs. Revenue =/= Profit.
    The reason this is absurd is that by this standard, almost ALL manufacturing jobs are "making a profit" because no one would sell something for less than its cost of goods sold. Turning a Gross Profit is meaningless and the easiest thing to do in business.
    Haymarket's "support" of the 2nd Amendment, a right he believes we never had.
    Quote Originally Posted by haymarket View Post
    no. You cannot lose rights you do not have in the first place. There is no such thing as the right to have any weapon of your choice regardless of any other consideration. It simply does not exist.

  6. #396
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    Re: Michele Bachmann announces presidential campaign

    Quote Originally Posted by Lachean View Post
    The reason this is absurd is that by this standard, almost ALL manufacturing jobs are "making a profit" because no one would sell something for less than its cost of goods sold. Turning a Gross Profit is meaningless and the easiest thing to do in business.
    A manufacturing company could be making large amounts of profit before reserves, one time expenses and stock buy backs. None of which actually affect their "real" profit but are all able to turn a profit into a reportable net loss. And Shewolf was not talking only about gross profit.

    Furthermore, cost of goods sold is merely one cost. Non-UNICAP overhead, adminstrative and general sales have the potential to reduce income. Not to mention actual warranty costs, bad debt expenses and a whole host of non-COGS items. And let's not forget backtaxes which are a cost and are somewhat unrelated to the period's revenues. If we really want to go into this in depth, UNICAP alone could actually render the cash basis of a company unprofitable as the capitalized costs are still be incurred but not be recouped in the period of sales.

    Would I be correct to assume you just started introductory accounting in college?
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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