Accounting Articles

Cost Of Goods Sold Definition

The cost of goods sold is the cost of the products that a retailer, distributor, or manufacturer has sold. Depending on the COGS classification used, ending inventory costs will obviously differ. Vikki Velasquez is a researcher and writer who has man... Read more

What Is A Single Step Income Statement?

A single-step income statement may break down the sources of revenue and expenses, as the following example shows, but it doesn't go into too much detail. Also, notice how the statement is clearly split into two areas -- revenue and gains. Read more

Is Accounts Receivable Considered An Asset?

If you have many different customers, keeping track of exactly who’s behind on which payments can get tricky. Some businesses will create an accounts receivable aging schedule to solve this problem. Now that you understand why your accounts rec... Read more

Accounting Basics For An Llc

Other guys you can’t get a hold of them for two or three days. I think she is the best one for the job for any small business looking for a good accountant.Like C corps and S corps, LLCs give their. Read more

A Board Member’s Guide To Nonprofit Overhead

Also included are fundraising expenses, including salaries, professional consultants and special events. All supplies and materials in these administrative areas also count as overhead. Many foundation leaders now understand that overhead is part of ... Read more

The Balance Sheet

Irrespective of the business' size, keeping track of assets is very important. Items like land, buildings, properties, accrued expenses etc., are primarily used as examples to define assets. Without understanding assets, liabilities, and equity, you ... Read more

Accrual Accounting Vs Cash Basis Accounting

In the meantime, start building your store with a free 14-day trial of Shopify. This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own. Read more