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Contribution Format
An income statement format that separates fixed costs from variable costs, showing the contribution margin of sales over variable costs.
External Reporting
The process of preparing and presenting financial and other information to parties outside the organization.
Traditional Format
In accounting, it refers to the conventional way of reporting income statements, segmenting costs into categories like cost of goods sold, operating expenses.
Cost Of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including raw materials, labor, and manufacturing overhead.
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