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"Why not develop an Android app?" - ­such a thought in our time comes to minds of many. Mobile applications are now undergoing the same evolution, as the websites at one time had: once they were a luxury, now became the norm for virtually any business. In addition, much more people now employ an idea of developing an application, because every business, entrepreneur, brand, startup or even just a person with an idea can find an audience for it in...

How to Account for Cost of Goods Sold. The cost of goods sold (COGS) for a period is the total amount of costs involved in manufacturing a product or delivering a service. COGS varies for products and services, but it generally includes...

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This article focuses on a comparison of the different inventory costing methods, namely: FIFO, LIFO and Average Cost. Explanations and examples are provided in order to explain the effects of each costing methods in accounting for the value of the physical inventory at year end and how it will have a direct effect on the Cost of Goods Sold as a prelude to the computation of Net income.

The primary basis for GAAP accounting rules for capitalizing costs is the assumption that an asset or expenditure will realize benefits that extend through future years. However, certain transactions need to adhere to other rules as well, while some have to be presented differently if only for taxation purposes. Readers should have awareness that different principles apply in determining if a substantial expense is to be treated as an asset or as...

In this lesson we're going to learn about the incomes and expenses associated with selling inventory, as well as the cost of goods sold formula.

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You should know some hard facts about mobile app development. Hidden costs might occur during the development stages and even after that.