OPERATING SECTION . A report of the revenues and expenses of the company’s principal operations. (a) Sales or Revenue Section. A subsection presenting sales, discounts, allowances, returns, and other related information. Its purpose is to arrive at the net amount of sales revenue. (b) Cost of Goods Sold Section. Asubsection that shows the cost of goods that were sold to produce the sales. (c) Selling Expenses. A subsection that lists expenses resulting from the company’s efforts to make sales.
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This note was uploaded on 03/08/2011 for the course ACCOUNTING 14 taught by Professor Saeedi during the Spring '11 term at Amirkabir University of Technology.