Our Buyers Guide can help Finance Systems, Controllers, VPs of Finance, and CFOs better understand the many characteristics of a strong Finance Data Platform, including many attributes they might not have considered.
Accounting for COGS (Cost of Goods Sold) Examples
Cost of Goods Sold (COGS) is the sum of costs directly associated with producing the goods sold. COGS should be recorded in the same period as the revenue it generated. Recording COGS accurately can be complicated by shipping delays, returns, and missing vendor invoices.
Opportunities for E-Commerce Companies Implementing ASC 606
E-commerce companies implementing ASC 606 have the opportunity to assess their operations and make improvements to bring added transparency and efficiency to their businesses. Some possible improvements include contract assessments, implementing scalable systems, and managing supplier relationships.