Direct my study.
hi! anyone who tell me how to start this lessons?
Merchandising companies allow customers to return goods are defective or any wrong reasons or quality. When they not satisfy some company accept the return too. Sales return: when customer not satisfy, some company give them discount price than original price called sales allowance that is deduction from original invoiced sale price for any reasons
Accounting theory: set of basic concepts and assumptions that related principle that explain and guide the accountant’s actions in identifying, measuring and communicating economic information. Bias: measurement are consistently too high or too low in financial statements Administrative expenses: overall management of a business expenses Cash discount: dedication from the invoice price taken only paid within a specific time Chain discount: occurs when the list price of product is subject to a serine of trade discounts Classified income statement: divides both revenues and expenses into operating and non-operating items called multiple step income statement too Consigned goods: goods delivered to another party who attempts to sell the good for the owner at a commission Cost of good available for sale: equal to beginning inventory plus net cost of purchases Cost of goods sold: net cost of purchases, ending inventory Delivery expense: record of selling by seller cost of destination FOB destination: means free on board at destination; goods are shipped to without charge to buyers, sellers responsible for pay FOB shipping point: free on board at shipping point; buyers incurs all transportation cost after ; buyers pay the shipping cost Freight collect: buyer to pay the bill on arrival of goods Freight prepaid: buyer pays before receives the goods Cross margin or gross profit: net sales-cost of goods sold after all expenses Gross margin percentage: divided by net sale Gross selling price(invoice price):
learning of key accounting terms
very nice lecture
very nice lecture
how we solve the problem ?
what is non-operating revenue?
Why most companies charge a restocking fee?