Income Statement List Of Revenue Accounts

A larger organization may have hundreds or even thousands of income statement accounts in order to track the revenues and expenses associated with its various product lines departments and divisions.

Income statement list of revenue accounts. Contains revenue from the sale of products and services. Other account titles may be used depending on the industry of the business such as professional fees for professional practice and tuition fees for schools. The income statement accounts most commonly used are as follows. These accounts are designed to separately store deductions from revenue.

List of revenue accounts. Service revenue revenue earned from rendering services. The profit or loss is determined by taking all revenues and subtracting all expenses from both operating and non operating activities this statement is one of three statements used in both corporate finance including financial modeling and accounting. It is the principal revenue account of merchandising and manufacturing companies.

In addition to the preceding list of major revenue accounts there are also several associated contra revenue accounts.