Tag: financial accounting

Cost of goods sold is one of the most significant expenses of both merchandising and manufacturing companies. Cost of goods sold is deducted from company sales to calculate gross profit. […]

  Companies have a great incentive to provide timely reliable financial information to help decision makers in rationalizing their decisions. To provide reasonable comparable financial information, companies should prepare four […]

Companies have a great incentive to maximize their profits, and boost their earnings. To do that, they should generate more revenues and lower their expenditures. In this article we will […]

A Balance Sheet is a financial statement that shows the company’s financial position at a specific point of time. It shows what a company owns, how much it owes as […]

The income statement or profit and loss account is one of the most important financial reports in the organization. It shows the company’s net profit or net loss. Unlike the […]