Mastering Financial Accounting: Sales, Inventory, and Fraud Prevention

Posted by on Jan 22, 2025 in Naval Architecture | 0 comments

Chapter 5: Sales Revenue and Gross Profit

Sales Revenue – Cost of Goods Sold (COGS) = Gross Profit

Gross Profit – Operating Expenses = Net Loss

Gross Profit / Net Sales = Gross Profit Rate

Sales Revenue – Sales Returns and Allowances = Net Sales

COGS is an expense account.

  • Perpetual System: Constantly keeps inventory data up to date.
  • Periodic System: Does not maintain detailed, continuous inventory records.

Cost of inventory includes purchase price and shipping charges.

  • FOB Shipping Point: Free for the seller;
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Daisy Miller: American Innocence and European Decadence

Posted by on Jan 9, 2025 in Naval Architecture | 0 comments

Cultural Clash in Henry James’ Novella

The American expatriates presented in Daisy Miller are well integrated into European society, having adopted its beliefs and values. They assume a European identity, thus suffering a shift from innocence to decadence, emphasized in the opposition with the American tourists, representing the typology of the innocent. Europe is a space of resistance against innocence; conversely, America is a space of resistance against decadence. Thus, the reader deals with a

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