Day 1: Accounting

Join me as I gather magical gems from the perplexing AS Accounting.book (but I hope the crap I am giving here is easy crap).

But these can be wrong too; don’t sue me if you find a mistake D: Feel free to call me out whereever I am wronggggaaa (No, that’s not the wrong way to say wronggggaaa)

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Now to freakin’ solicit this space with “fun”!

ACCOUNTING:

Click on Image for Credit

I  remember what should come under the Cost of Goods Sold part by this abbreviation- BPPCE

(Note: We buy things for manufacturing products. And the sh*t we buy for selling isn’t definitely a profit, because it costs. Right? RIGHT!? So the “Cost of goods sold” (goods a bit indirectly sold) is deducted from the sales income

B- Beginning/Opening Inventory/Stock (We paid for shit to use. And shit costs, thus -Cost of Goods sold)

P– Purchases (Costs. Duh)

P– Purchase Returns (which will be subtracted from purchases because because it wasn’t a purchase if it’s been returned to the store)

C– Carriage inwards (Cost for delivery. How fancy. I never actually had a home delivery. But anyhow..)

E– Ending/Closing Stock (which, too, is subtracted because this stock is the remaining stock which wasn’t used up. So it definitely hasn’t costed in the sense of being used up for selling)

Sing Mon Da Student like you sing Bob the Builder 😀 Ah. Nostalgia.

Moon the Student.

Can we learn sh*t?

Mon the student! Yes, we CAN!

Enjoy your knowledge, Nerdzies!

Image by Paul Militaru