An article describing the basic elemets of the ‘Cost of Goods Sold’ section of a Profit and Loss statement. It provides examples of some simple formats and explains the basic terminology used for this area of the Profit and Loss Statement. A good artilce for the new entrepreneur to learn about how Cost of Goods Sold is defined.
Contribution margin is a core business concept and is often used in cost accounting to identify the amount of financial contribution a sold product provides to the company. Simply put, contribution margin is the sales […]