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Income Statement Format- Merchandising, Manufacturing and Service Company

In practice for financial accounting, we ever knew cost of goods sold ( for merchandising company) or cost of products sold ( for manufacturing company) that are shown in income statement, but we rare saw cost of service ( for service company) in income statement. Below are forms of income statement for each company: Example 1-Income Statement for Merchandising Company

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Cost of Construction

Some business companies are related with construction activities such as hotel, school, road, bridge, condo, flat, building construction etc. In practice for simple method, Cost of construction = material cost + labour cost + overhead cost=specific cost + common cost Each cost of construction may have specific cost and common cost. Specific cost for specific project will not be allocated

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Cost of Service ( COS)

Cost of service can be applied to an individual customer or as an average cost of service for a group of similar customers. Each customer has each cost of service but similar customers & services we should use average cost for each customer for management purpose. Cost of service = material + labour + overhead Example  ABC Company is research

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Cost of Inventory- Products / Finished Goods

Cost of Inventory-Products for manufacturing company Cost of Inventory for manufacturing company The examples of manufacturing company are as follows. Company manufactures and sells phones, computers, scanners, LDC Company manufactures and sells cars, motor Company manufactures and sells furniture Company manufactures and sells TV Cost of finished goods = cost of material + conversion cost Cost of material = purchase

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ភាសាខ្មែរ | Accounting or IFRS for SME (Download Book or Read Online)

 International Financial Reporting Standard for Small and Medium-sized Entities (Download Book or Read Online) as Khmer Language Advertisement from Phnom Penh HR Phnom Penh HR is the best recruitment and consulting company in Cambodia and Asia, and our services by ACCA | CPA, Diploma in Cambodia Tax, Tax Agent, MBA etc. Phnom Penh HR services: Recruitment, Consulting, Accounting Service, Tax

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