Bookkeeping

This formula provides a quick way to estimate earnings and helps set clear financial expectations for consignors and consignees. A higher percentage means a larger share of the sale proceeds for you, so understanding this is essential for financial planning. Consignment agreements outline any fees that may be deducted from the sale proceeds, such as […]

The statement of financial position is another term used to refer to the balance sheet. Unlike the Income Statement, which shows profitability over a period, the Statement of Financial Position reveals the financial position at a specific date, highlighting what the company owns and owes. The balance of equity is affected by an income statement