TopicDetermining A Profit Without An Income
If you are in the promotional products industry, it is important to not write off the non-profit sector as a source of potential clients. They're out there and they need your help! If you are a non-profit, the promotional items out there could be a critical contribution to getting some awareness out there and some contributions rolling in.
Chris Ellis has been around imprinted promotional items for many years now, and has guided countless successful marketing campaigns. This marketing and author is here to guide you through the many pitfalls of promotional products.
The well-known and elementary method of determining a profit (or loss) is a simple method of deducting expenses from income. This is how accounting students are taught in Accounting 101, or at school.
To tamper with taxable income, adjusting sales reduces businesses profits. Or alternatively to impress stockholders, profits are artificially boosted by either tampering with expenses or accruing for sales, not realized. (Remember the accounting scandals and corporate failures a few years ago?)