Hello everyone . I need some guidance in preparing the chart of accounts of a schools operations .
In order to calculate the Gross Margin, which items will be included in cost of services or operating expenses .
Currently I am including the cost of operating staff ( includes each and every expense that relates to the operational staff ), classroom supplies, sports expenses, lab expenses , infirmary, and other direct expense that we spend on the operational staff.
The iqama, work permit , reg and all such expenses are also included in operational staff cost ( ???it shud be admin exp or can be clubbed in calculating the operational cost )
Secondly the sports club subscripttion, library software expenses, lab software expenses are also added to their specific cost in operational expenses.(??? will the above cost appear in gen and adm expenses)
The general and administration expenses include the general and adm. staff cost , printing stationery , subscripttions , taxes ,audit,,software ( admin use and accounting software )