Cost of Goods Sold
Cost of Goods Sold. Expenses incurred to produce or acquire, and store, the products sold by a business during this period. ... Read MoreRead More
Cost of Goods Sold. Expenses incurred to produce or acquire, and store, the products sold by a business during this period. ... Read MoreRead More
Cost of Goods Sold (COGS): The direct costs related to producing goods sold by a company. ... Read MoreRead More
Credit. An accounting entry that either increases a liability or equity account, or decreases an asset or expense account. It is positioned on the right side of an accounting entry. ... Read MoreRead More
Credit: An entry recording income or liability (opposite of debit). ... Read MoreRead More
Current Assets. Assets that can or will be converted to cash within one year or less. Typically, this could be cash, inventory or accounts receivable. ... Read MoreRead More
Current Liabilities. Liabilities that cash will be used to pay within one year or less. ... Read MoreRead More
Debit. An accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned on the left side of an accounting entry. ... Read MoreRead More
Debit: An entry recording an expense or asset increase (opposite of credit). ... Read MoreRead More
Depreciation. A non-cash expense that shows an asset’s loss of value due to usage and/or time. ... Read MoreRead More
Depreciation: The gradual reduction in the value of an asset over time. ... Read MoreRead More