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#cfa #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #subject-1-types-of-profit-measures
Accounting profit is the profit used by accountants to determine a firm's net income.

Accounting profit = Total revenue - Total accounting costs
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Subject 1. Types of Profit Measures
Accounting Profit Accounting profit is the profit used by accountants to determine a firm's net income. Accounting profit = Total revenue - Total accounting costs Economic profit equals a firm's total revenue minus its total opportunity costs of production. Economic profit = Total revenue - Total op


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