Did you mean?
Search Results - Showing 60 - 72 Of 62
_what-is-the-inventory-and-cogs.webp "Inventory and Cost of Goods Sold (COGS) are closely related concepts in accounting, particularly in the context of manufacturing, retail, and other inventory-based businesses.<br/><br/>Inventory:<br/>Inventory refers to the goods that a company holds for the purpose of selling to customers in the ordinary course of business. It includes raw materials, work-in-progress (partially completed goods), and finished goods awaiting sale. Inventory is classified as a current asset on the balance sheet because it is expected to be converted into cash or sold within the normal operating cycle of the business.<br/>Cost of Goods Sold (COGS):<br/>COGS represents the direct costs associated with producing the goods that a company sells during a specific period. It includes the cost of materials used in production, direct labor costs, and overhead costs directly attributable to production activities. COGS is reported on the income statement and is deducted from revenue to calculate gross profit.<br/>The relationship between inventory and COGS is straightforward:<br/><br/>At the beginning of an accounting period, the company has a certain amount of inventory on hand from the previous period.<br/>During the period, the company purchases additional inventory, produces goods, and sells products to customers.<br/>The cost of the inventory sold during the period is recorded as COGS on the income statement. This amount is calculated based on the cost of the inventory that was on hand at the beginning of the period, plus any additional inventory purchases made during the period, minus the value of inventory remaining at the end of the period (ending inventory).<br/>Ending inventory is reported as a current asset on the balance sheet, representing the value of unsold goods at the end of the accounting period.<br/>In summary, inventory represents the goods a company holds for sale, while COGS represents the cost of those goods that have been sold during a specific period. Tracking inventory and accurately calculating COGS are critical for determining a company's profitability and managing its cash flow effectively.")
_how-to-working-with-leases.webp "Working with leases involves several steps, whether you're a lessor (the owner of the asset being leased out) or a lessee (the party leasing the asset). Here's a general guide:<br/><br/>For Lessors:<br/><br/>Identify Lease Arrangements: Determine which contracts in your business involve leases. A lease is defined as a contract, or part of a contract, that conveys the right to use an asset for a period of time in exchange for consideration.<br/>Classify Leases: Classify each lease as either a finance lease or an operating lease. This classification depends on factors such as whether the lease transfers ownership of the asset to the lessee by the end of the lease term, whether the lease term is for a major part of the asset's economic life, and whether the present value of the lease payments equals or exceeds substantially all of the fair value of the asset.<br/>Recognize Lease Income: For operating leases, lessors recognize lease income over the lease term, typically on a straight-line basis unless another systematic basis is more representative of the pattern of benefits to be derived from the leased asset.<br/>Accounting for Finance Leases: If a lease is classified as a finance lease, the lessor recognizes a lease receivable representing its right to receive lease payments, and the underlying asset is derecognized from the lessor's balance sheet. The lessor recognizes interest income over the lease term and any residual asset or residual value.<br/>Disclosure: Disclose relevant information about lease arrangements in the financial statements, including the nature and timing of lease payments and any significant leasing arrangements.<br/>For Lessees:<br/><br/>Identify Lease Arrangements: Determine which contracts in your business involve leases, similar to lessors.<br/>Classify Leases: Classify each lease as either a finance lease or an operating lease. This classification follows similar criteria as for lessors.<br/>Recognize Lease Liability and Right-of-Use Asset: For finance leases, lessees recognize a lease liability representing their obligation to make lease payments and a right-of-use asset representing their right to use the leased asset.<br/>Accounting for Operating Leases: For operating leases, lessees recognize lease payments as lease expense on a straight-line basis over the lease term unless another systematic basis is more representative of the pattern in which the lessee consumes the benefit derived from the leased asset.<br/>Disclosures: Disclose relevant information about lease arrangements in the financial statements, including the nature and timing of lease payments, significant leasing arrangements, and the maturity analysis of lease liabilities.<br/>Throughout the process, it's important to adhere to relevant accounting standards, such as the International Financial Reporting Standards (IFRS 16) or the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 842, depending on the jurisdiction and regulatory requirements. Additionally, it's advisable to con")
Related Searches
Search Videos
Recent Searches
সাহারা vedio | bu print upload | xxxariana grande | la new islamic | al layla bil layla | sunny leone painful first analsangavi pundai photosbollywood puja gupta sexsuhhyleohe comamir khan xxxstar jalsa all actor photospurvi shreya n tarika frm cid lesbians xxxfirst time of indian girlssradhww | banana tamil veda | check hd telugu movie | 02 vizhigalil oru vaanavil | asia bibi husband | trail chor mart | رقص های شکیرا@ | college canteen | yo my darling | free no copyright fozon car racing game videos | dji mavic youtube | habit pas me | wwe video com all | wnu dy | bangladesh grom mosla | namkaran riya avni status | chucky 3 en | foods vs cartoon pvz | fat aunty pics | bra ka | theme song season one in not scary titans go | eyles albam song | ডাইরের | ছেকছি ভি বুলু পিলিমাদেশি মেয়েদের বরবর আর গুদদের নাইকা পলি | aashiqui 2015 indian videos big muse hindi | online excel viewer and editor chrome | hot sanyluna photos | دسی زیبا شیرده | l management cll | tumi aj kotha diyecho bolecho duti mon ghor badhbe sigail songng dj remix songotone rekhechi tomay amar buke by imran amp nancy mp3 ban | one main in indianapolis | 14 old vid | amer tomake debo bash bulbul free download music mp amay dukko dilo | bangla movie baitaananm re la model tisa | abiram taree 2024 | www bangla video bikoom la sx নায়িকাদে | bryce hall back | night ki w | big h and teen girl | fight java games asphalt nitro | gacha expansion | www নায়িকা পপি এর কা মাহিয়া মাহি ভ | elesta girl belly inflation | hisoka anime character | mr rachel | yasuhiro hagakure ultimate | gyj41tqyw0 | galapagos islands map picture | dtx 1800 software update | easter island | beauty angels | শাবনূর ভিডিও গান | and w | tcr | habiba hots | sony aa aaa video | মেয়েদের চেহারা | bangla new song by imra | লগ্ন ফটো | mother old son@videos | சிந்து மேனன் | 69 com poremoni photochacma bd imagewww katrina kaif full kapoor boobswww bdjobs নায়িকা পলি বিশাস | piya bed | carl france facebook | khola cole | www adalot আরবের vangla videoba koto dngla vedio hd 2017 | z13auswd3ew | mtr foods | toby keith | tamil saxy রাতের গল্পকা অপু বিশাস এর ছবি হট রা | desi beautiful vlogger | y xwvfrkwsu | www coming new movie video | music maker jam free |
![[+]](/images/menu.gif){kind=small}