A certified public accountant is one who has earned a license in his or her state that attests to a high degree of skill, training, and experience. In addition to passing an accounting examination, a candidate must have the proper business experience, education, and moral character in order to qualify for the license. The letters CPA are commonly used and generally recognized to be the abbreviation for the title Certified Public Accountant.
For manufactured goods, direct costs also include raw materials, labor, and production expenses. Other costs, such as transportation and advertising, are not included in COGS. To calculate COGS, beginning inventory is added to current period purchases, and ending inventory is then deducted.
Cost of Sales. Cost of sales, sometimes called Cost of Goods Sold (COGS) or direct costs, is traditionally the costs of materials and production of the goods a business sells.Cost of Sales or COGS belongs in accounting in the month in which the goods or services are actually sold, regardless of when they were purchased.For a manufacturing company this is materials, labor, and factory overhead. For a retail shop it would be what it pays to buy the goods that it sells to its customers.ost of Sales or COGS belongs in accounting in the month in which the goods or services are actually sold, regardless of when they were purchased. For a manufacturing company this is materials, labor, and factory overhead.