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CA.Vinita Gupta
(Querist)
21 November 2011
Can someone explain me the COGS concept. ERP like Oracle Apps and few others follow the COGS Concept while accounting. Inorder to make accounts as per the New Schedule VI, how will Purchases be calculated?
CA Ayush Agarwal
(Expert)
21 November 2011
What is CoGS
Opening+Purchased-Closing
Now For Accounts -
COGS+Closing-Opening = Purchased
Opening+Purchased-Closing
Now For Accounts -
COGS+Closing-Opening = Purchased
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CA.Vinita Gupta
(Querist)
22 November 2011
I agree with u but do u mean to say that Purchase Figure has to be calculated with the abovementioned formula and then after getting the figures it has to be disclosed as per Schedule VI, Can the Configuration in Oracle apps be changed?
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