Balance Sheet Of Manufacturing Company - Manufacturing companies have several different accounts compared to service and merchandising companies. Describe how to prepare an income statement for a manufacturing company. These include three types of inventory accounts—raw materials, work‐in‐process, and finished goods—and several long‐term fixed asset accounts. Companies that provide services, such as ernst & young (accounting) and accenture llp (consulting), do not sell goods and therefore have no inventory.
These include three types of inventory accounts—raw materials, work‐in‐process, and finished goods—and several long‐term fixed asset accounts. Describe how to prepare an income statement for a manufacturing company. Manufacturing companies have several different accounts compared to service and merchandising companies. Companies that provide services, such as ernst & young (accounting) and accenture llp (consulting), do not sell goods and therefore have no inventory.