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Results tagged with accounting
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user 88337
for questions that relate to the laws, practices, and products of accounting. Please note that questions about accounting that are academic or have no bearing on personal finance are off-topic here.
8
votes
Question about double-entry accounting
An account, in accounting terms, is merely a ledger or list of transactions.
Say that you receive some cash. Where did that cash come from? …
- 243
4
votes
Accepted
Profit and loss statement without any sales
Inventory costs would go into the Inventory account; which is not on the P&L, it is a balance sheet account. Once a sale is made, the cost of that sale is posted to Cost of Sales and offset against yo …
- 243