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CA.Vinita Gupta (Querist)
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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

CA Ayush Agarwal (Expert)
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21 November 2011 What is CoGS

Opening+Purchased-Closing

Now For Accounts -

COGS+Closing-Opening = Purchased

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CA.Vinita Gupta

CA.Vinita Gupta (Querist)
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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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