If you sell merchandise or manufacture products, you depend on selling your inventory to earn revenue. To know your gross profit, you must track your sales and the cost of goods sold, or COGS.

Inventory adjustments are necessary in just about any business, and there are two basic methods used to adjust inventory. Perpetual inventory adjustment occurs when the inventory is adjusted to ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. The balance sheet, income statement, and cash flow ...

A balance sheet is a versatile document that offers a snapshot of a company's or individual's finances at a given point in time. Businesses can use balance sheets to develop plans for the future and ...

A balance sheet is a type of financial statement that lists a company's assets, liabilities, and shareholders' equity. The assets should be in "balance" and equal the total liabilities and ...