What is COGS? A concise guide for retail businesses

What is COGS? A concise guide for retail businesses

When you add your inventory purchases to your beginning inventory, you see the total available inventory that could be sold...

13 3 Accounting for Contingencies Financial Accounting

13 3 Accounting for Contingencies Financial Accounting

The commitments which does not belongs to the reporting period are to be shown as foot notes in the balance...

12 1 Identify and Describe Current Liabilities Principles of Accounting, Volume 1: Financial Accounting

12 1 Identify and Describe Current Liabilities Principles of Accounting, Volume 1: Financial Accounting

This is so because the creditors expect that the existing working capital will be used to pay off such a...

Trial Balance Definition, Explanation, Method, Preparation, Example

Trial Balance Definition, Explanation, Method, Preparation, Example

An entry into one account results in an equal and opposite entry into another. Any time an organization purchases equipment,...

Carlsbad CPA Bookkeeping & Accounting Services

Carlsbad CPA Bookkeeping & Accounting Services

You can change this selection at any time via the Accredited Business toggle on the search results page. But you’re...

Gross Profit vs  Net Income: What’s the Difference?

Gross Profit vs Net Income: What’s the Difference?

However, in the vast majority of cases, net income is less than gross income. For example, a company might increase...