Cost of goods sold

Hair Salon Business Model A hair salon business model includes the different sources of business that as services and retail sales, a hair salon has, value the hair salon delivers like the coloring of hair, pricing the value, and the type of customer who pays for it. Understanding the business model is vital to understanding […]

What are financial services? Financial services are the economic services provided by the finance industry, that includes varieties of businesses to manage money, including credit unions, banks, credit-card companies, accountancy companies, consumer-finance companies, stock brokerages, insurance services, investment funds. The commercial bank is the simplest and most popular financial services structure available. The commercial bank

The business model of e-commerce The business that is done with the help of the internet is called e-commerce. Ecommerce is everything in business and involves buying, selling, and making transactions online. The “e” in “eCommerce” is just like the “e” in “email and this means commerce done in electronic platforms such as software applications

Hospitals Business model Hospitals are based on service models rather than manufacturing. The hospital business prioritizes providing quality services. Hospitals are basic healthcare service providers with varieties of trained staff and medical equipment and devices to treat ailments and sickness of patients. Hospitals provide two types of services: inpatient and outpatient services. Patients that require

Grocery store business Model Generally, a convenience store or grocery store is a small retail business that stocks a range of everyday items such as coffee, groceries, snack foods, confectionery, soft drinks, tobacco products, over-the-counter drugs, toiletries, newspapers, and magazines. Grocery stores are popularly called retail stores or convenience stores. Convenience stores make money by

Food Business Model The cost of food business i.e. restaurant ingredients changes regularly, as the price of produce fluctuates with the seasons and the business finds different sources for essential items. It’s prudent to calculate food costs before the company introduces a menu item, so the company can use this decision to help determine the

The agricultural company is set up in the traditional manner of growing agricultural produces and selling them at an appropriate margin. While growing the agricultural produce, the crops are value added by way of direct labor. The agricultural company may also involve itself in the direct selling of seeds and saplings to direct customers. After

Cost of Goods sold Cost of goods sold refers to the costs involved in making the goods or services that are being sold. It is basically the direct materials, direct labor, and direct expenses involved in making the products. These are easily traceable costs and can be easily identifiable from looking at the products. The

The Cost of Goods Sold is a very important record in a company’s financial statements. But before you prepare the financial statements, you need to first get the Trial Balance. The Trial Balance seeks to ensure that the total debit entries of your company balance the credit entries. Hence, it requires that an accurate record