855.510.2227[email protected]

Financial Foundation – Session 2

Hosted by: Denise MacDonald and Steve Fisher

A detailed Chart of Accounts (COA) allows for tracking where money comes in and goes out within a given reporting period. Cost of Goods Sold (COGS) and Gross Margin (GM) are key in financial reporting. 

In this session, we explore:  

  • What is COGS, and why is it important to include it in a P & L statement? 
  • Why is Gross Margin one of the most important numbers to have on a P & L statement? 
  • How and why do we lay out revenue centres to correlate with COGS?   
  • How do we lay out the Point of Sale (POS) for the Chart of Accounts (COA)?