Bookkeeping – Ali Petroleum Service
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Expense Accounts

ContentNormal BalanceExpense Account's Meaning In Other SitesDefine ExpenseUnderstanding ExpensesServicesService FeesWhy Do You Need An Expense Account? Accordingly, accountants refer to these expenses as "below the line" expenses. Operating expenses, however, do impact Operating Profit and bottom line Net profit. Gross profit is the difference between total COGS and Net sales revenues. Gross profit, of course, is an amount, expressed in currency units. Business people often prefer instead to focus on…

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