Businesses seek to generate profit. To do this, they sell goods to bring in revenue. But revenue and profit aren’t the same. To get from one to the other, you need to factor in the cost of goods sold ...

When a company pays an officer a salary, that salary must be accounted for on both the company's financial statements and the company's tax return at the close of the year. An officer's salary is ...

There's a fine line between applying accounting strategies in an attempt to make your balance sheet look better and committing fraud. Companies may understate their cost of goods sold to increase ...

Cost of goods sold (COGS) is an important metric contributing to a business's overall gross profit and long-term growth prospects. This key performance indicator impacts everything from your tax rate ...

Calculating the cost of goods sold gives a business insight into its performance and helps calculate profit. Many, or all, of the products featured on this page are from our advertising partners who ...