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TeachMeFinance.com - explain gross profit gross profit -- Sales minus Cost of Goods Sold. The total dollars available to cover general and administrative expenses such as utilities, advertising, rent, etc. historic accounting definition (British)... gross profits -- The difference between the cost price and the selling price of goods after taking into consideration the stocks at the commencement or end of the period. In the case of manufacturing, the cost price of material, together with the wages and other charges necessarily incurred in producing the goods, represents their cost. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.