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Lexine Machuca

About the Author

Lexine Machuca

Prior to her time at Fit Small Business, Lexi Machuca worked as a news writer and content creator, dabbling in creative writing when possible. She enjoys making art, writing poetry, and studying pop culture.

What is a Nonprofit Organization?

By Lexine Machuca on July 28, 2017 | Business Law, Business Law Terms, What is

Nonprofit Organization

A nonprofit organization serves public or mutual benefits and interests. Being a nonprofit does not mean that the organization does not generate profit, but simply that it doesn’t generate revenue for the purpose of harvesting income. They typically serve a scientific, religious, educational, or charitable purpose and, with recognition by the IRS, are tax-exempt. Nonprofits…

What is Cost of Goods Sold (COGS) & How To Calculate It

By Lexine Machuca on July 3, 2017 | Accounting, Business Accounting, Ultimate Guide

what is cost of goods sold

Cost of goods sold (COGS) is an accumulation of the direct costs that went into the goods sold by your company. This includes the cost of any materials used in production as well as the cost of labor needed to produce the good. It does not include indirect expenses such as distribution costs and marketing…

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