fabm (tf?)

Net sales

The first line after the heading of the Income Statement is the . To show the details of its computation, it is supported by a note to financial
statement.

Cost of Sales

cost of goods sold represents the cost of
merchandise inventory sold by the business to its customers. This comprises the company's biggest expense and it is deducted from net sales to arrive at the gross profit.

Other Income

Income derived from sources other than the company's main line of business.

Distribution Expense

Those expenses incurred in directly selling the merchandise. This includes salaries of sales personnel, expenses incurred in promoting or advertising the product, commissions on sales, store
supplies used, utilities used in the store, depreciation expense of assets
used in the store and the cost of transporting the merchandise to the customer's place of business under the account title freight-out or delivery expense.

Administrative Expense

Expenses necessary in the management of the office. This includes the salaries of office personnel, office supplies used,
utilities used in the office, depreciation of office assets and the provision for bad debts or uncollectible accounts.

Other Expense

Expenses not connected to the operating activities of the
business.

Finance Cost

Interest expense paid for the use of borrowed funds.

Net Realizable Value

is the total amount of accounts Receivable Minus Allowance fir bad debts

Long Term Investment

are assets held by an enterprise for the accretion of wealth through capital distribution such as interest, royalties, dividends and rentals, for capital appreciation or for other benefits to the investing enterprise such as those obtained through trading relationships.

Property, Plant, Equipment

tangible assets that are held by an enterprise for use in the production or supply of goods or services, or for administrative purposes and which are expected to be used for more than one period

Land

a piece of lot or real estate owned by the enterprise on which a
building can be constructed for business purposes.

Building

is an edifice or structure used to accommodate the office, store,
or factory of a business enterprise in the conduct of its operations.

Equipments

includes typewriter, air-conditioner, calculator, filing cabinet,
computer, electric fan, trucks and cars used by the business in its office,
store or factory.

Furniture and Fixtures

include tables, chairs, carpets, curtains, lamp and lighting fixtures, and wall decors.

Intangible Assets

are identifiable, non-monetary assets without physical substance held for use in the production or supply of goods or services, for rental to others, or for administrative purposes.

Non Current Liabilities

are long-term liabilities or obligations which are payable for a period longer than one year.

Mortgage Payable

is a long-term debt of the business with security or collateral in the form of real properties. In case the business fails to pay the obligation, the creditor no can foreclose the mortgaged asset to be sold and the proceeds of the sale to be used to settle the obligation.

Bonds Payable

is a certificate of indebtedness under the seal of a corporation, specifying the terms of repayment and the rate of interest to be charged.