What is the formula for calculating profit?

The formula for calculating profit in finance is: Profit = Total Revenue - Total Costs This formula takes into account the total revenue generated from sales or services, and subtracts the total costs incurred in producing or delivering those goods or services. The result is the profit, which represents the amount of money that is left over after all expenses have been paid. This is a key metric for evaluating the financial performance of a business or investment, and is often used to assess the overall profitability and success of a company. In finance, profit is an important indicator of a company's ability to generate returns for its shareholders and investors, and is a critical factor in determining the value of a business. Calculating profit is a fundamental aspect of financial analysis and is used in a wide range of financial decision-making processes.