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Accounting Solver

Archive for the ‘Cost of Goods Sold’ Category

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December 6th, 2007

ENTREPRENEURS! LAUNCHING FROM A HOME BUSINESS TO A SELF-OWNED OUTSIDE BUSINESS

Our apprentice-like challenge is into its 5th week and the b5media ACES have completed their response to the fifth, latest challenge. The advice should serve any entrepreneur thinking of upgrading a Home Business to a Self-Owned Outside Business. Let us know what you think.
Kay’s business is doing great. However, her family is […]

By ren -- 3 comments

November 2nd, 2007

UNDERSTANDING ACCOUNTING TALK 23 How Cost of Goods Sold is figured

Figuring out the Cost of Goods Sold on a per item basis is a tedious and unnecessary process. In most cases, goods or products enter the Inventory at varying times and at varying costs. There are changes in the cost of raw materials, labor, transport, etc, from period to period and from time […]

By ren -- 0 comments

November 2nd, 2007

UNDERSTANDING ACCOUNTING TALK 22 Sales & Cost of Goods Sold vs Inventory

In some Income Statements (especially in the Income Statements of trading, merchandising & manufacturing firms), a refinement in the reporting of Sales is introduced by including the Cost of Goods Sold (i.e., the cost of the goods or products taken from inventory).

As explained in post 21, the Cost of Goods Sold is the value of […]

By ren -- 0 comments

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