If the inventory value included in COGS is relatively high, then this will place downward pressure on the company’s gross profit. For this reason, companies sometimes choose accounting methods that will produce a lower COGS figure, in an attempt to boost their reported profitability. Many service companies do not have any cost of goods sold […]
Category Archives: Bookkeeping
Find some English news articles with statistics or other large numbers. For more playful practice, go up against Floyd the Dog in Number Hold’em 2. Guide a green monster to the correct large number in the Monster Numbers game. Fortunately, there are hundreds of videos on YouTube that can help you learn and practice this […]
The revenue generated by a business minus its COGS is equal to its gross profit. Higher COGS with disproportionate pricing can leave your business in a deficit position if the prices are too low https://www.quick-bookkeeping.net/difference-between-above-the-line-below-the-line/ or alienate consumers if the price is too high. For companies attempting to increase their gross margins, selling at higher […]
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For example, if a company registers a patent, the legal costs, patent filing expenses, and others can all be written off. Intangible assets can be difficult to value since their future benefits are often uncertain. Because identifiable assets have a finite lifespan, their value can be considered over this period. Non-identifiable assets, on the other […]