Category Archives: Bookkeeping

The cost of goods sold (COGS) is a component of the value of a company’s inventory. Inventory and cost of goods sold have a directly dependent relationship in practice and on the books. In practice, a company cannot have inventory without also having proportionate costs that allowed it to generate that inventory. On the books, […]

The total amount realized by a company from the sales of goods or services rendered is its revenue. This amount includes all income that has been generated before the deduction of expenses and it is commonly referred to as gross sale. When the company is able to generate considerable revenue, it will be able to […]