by Tree Care in Fountain Valley | Jan 30, 2024 | Bookkeeping
Therefore, the cost of inventories (Cost of Goods Sold, or COGS) is the same as product costs. Since inventories are recorded as assets for the manufacturers, product costs are recorded on the balance sheet in the assets section under inventories. Following accounting...
by Tree Care in Fountain Valley | Nov 3, 2023 | Bookkeeping
A sole proprietorship often makes the most sense for a photography business in many cases because it is a low-risk business without a lot of liability. There is little benefit to most photographers, especially as they are starting out, to register another business...
by Tree Care in Fountain Valley | Mar 27, 2023 | Bookkeeping
The discount is applicable only if the customer making the payment and the payments are within the term and condition which is within the 10 days. Sales discounts are otherwise called cash discounts or early payment discounts. Sales discounts allow companies to...
by Tree Care in Fountain Valley | Nov 3, 2022 | Bookkeeping
I have worked in equity markets for 20 years and poor abbreviations drive me crazy. Regretfully, until the USA goes metric there’s going to continue to be problem with this. You can see it on ancient French and British ledgers from the 18th and 19th centuries...
by Tree Care in Fountain Valley | Mar 7, 2022 | Bookkeeping
Once the delivery is unloaded in the receiving country, responsibility is transferred to you. With FOB destination, ownership of goods is transferred to the buyer at the buyer’s loading dock. From there, the title for the goods transfers from the supplier to the buyer...
