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BUSINESS ACCOUNTING. The purpose of accounting is to help you make better financial decisions.
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BUSINESS ACCOUNTING
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Transcript of BUSINESS ACCOUNTING. The purpose of accounting is to help you make better financial decisions.
BUSINESS ACCOUNTING
BUSINESS ACCOUNTING
The purpose of accounting is to help you make better financial decisions.
BUSINESS ACCOUNTING
You also need to keep financial records for tax purposes.
BUSINESS ACCOUNTING
Cost of Sale or Cost of Goods Sold: The cost of labor, materials and overhead cost to create or make a product.
BUSINESS ACCOUNTING
Revenue/Income: the money received by a business through the sale of a product or service
BUSINESS ACCOUNTING
Profit: The amount received for a product or service in excess of the original cost.
BUSINESS ACCOUNTING
Expenses: any money spent as
part of the business.
BUSINESS ACCOUNTING
Inventory: The amount of product on hand.
BUSINESS ACCOUNTING
Interest: the money paid for borrowing money.
WHAT ARE SOME OF THE COST OF SALE ITEMS IN OUR BUSINESS?
Ingredients AdvertisingPackaging
WHAT ARE SOME SOURCES OF REVENUE A BUSINESS MIGHT GENERATE?
Sales
Stocks
Interest
WHAT ARE SOME TYPES OF EXPENSES A BUSINESS MIGHT GENERATE?
Rent
Cost of sales
Utilities
Taxes
Business licenses
Banking/Interest
