miltiades wrote:Sometime back a friend of mine who owned a shop in St Andrews street was insisting that he works on 100% profit.

I asked him what his entire stock's retail value was. He gave an approximate figure. I then said to him, since you claim to make 100% profit if I was to offer to buy your entire stock and asked you for a 51% discount would you accept. Of course he replied. Now go figure it out.

All businessess operate on GP based on sales less cost of sales. Hence you never make 100%. When you double your money you make 50% on the return.

Accountants are not Mathematicians, they simply apply very elementary mathematics/arithmetic and at best some statistical formulae for which they understand nothing as e.g.variance reduction in forecasts.

If Mathematicians were to serve the accountants alone, they would all go commit suicide.