What is the diff b/n accounting profit &economic profit?

Question

What is the diff b/n accounting profit &economic profit?

Answer 1

cost center = what's going out the door such as overhead and security costs and profit center = Net profit made over all ( Bottom line )

Look up cost centers and profit centers on any search engine what you're refering to is the exact same thing except different "wording".

Answer 2

Accounting profit is the results of operations, i.e. the profitability of the organization. Economic profit relates to opportunity costs, i.e. you company has a 3% return on investment while the banks would pay you 4%. Even though you had an accounting profit, your economic profit would below what it should be.

Answer 3

An economic profit arises when its revenue exceeds the total (opportunity) cost of its inputs, noting that these costs include the cost of equity capital that is met by "normal profits."

A business is said to be making an accounting profit if its revenues exceed the accounting cost the firm

Accounting profits tend to be higher than economic profits as they omit certain implicit costs, such as opportunity costs