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Cost of goods sold for small businesses

Brief introduction The correct recognition of cost of goods sold amount for a small businesses is a difficult and challenging task. The small businesses are at their growing phase of its lifecycle thus unavailability of competent staff made the correct amount of cost...

Cost of services for service businesses

Brief introduction Cost of services for a service sector organization mainly constitutes human resource of the entity which is providing services to its clients and customers. The human resource of the service organization provides services, the human resource of such...

Cost of Goods Sold for a rental property

Brief introduction A cost of good sold for any business entity in any sector is the main factor to evaluate the economic health of the organization. The difference between sales and cost of sales refer as gross profit or gross loss, the greater the difference the...

Cost of goods sold for contractors

Brief introduction A contractor business accomplishes the work given on a contract basis. The contractor can be an individual or a registered company and it works till the completion of the project or even after its completion for the maintenance purposes as per the...

How do you calculate the cost of goods sold for a bakery?

Brief introduction Bakery businesses are usually operating in retail outlets. All the baked items and food prepared in the bakery is a product of this business, the preparation of the product requires direct material such as baking powder, baking soda, flour, sugar,...

How to assess the going concern of a company?

Going Concern Concept There are many different concepts that companies must follow when it comes to accounting. One such concept is the Going Concern concept. The going concern concept of accounting requires companies to prepare their financial statements based on the...

Five Best Business Risks Management Books

Risk management is a fundamental part of any business. Risk management includes carrying out decisions that minimize the risks associated with various aspects of a business. There are several reasons why a business might want to manage its risks. These reasons may...

What is inventories profit

Businesses that deal with physical products will have inventory at some point during their operations if not always. Inventory is a term used to describe all tangible materials that businesses use to manufacture products for sale. For businesses, it is one of the most...

How to earn the most for a bookkeeper?

The competition in the bookkeeping profession is increasing day by day, which means the market is getting concentrated. It is difficult for fresh bookkeepers to earn a respectable earning in these conditions. Furthermore, it is also difficult for experienced...