Revenue Definition In Accounting
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In other words revenue is income earned by the company from its business activities.
Revenue definition in accounting. Hence revenue is the amount. Revenue definition october 06 2019 steven bragg. Under the cash basis of accounting revenue is usually recognized when cash is received from the customer following its receipt of goods or services. Fees earned from providing services and the amounts of merchandise sold.
A survey produced quarterly by the census bureau that provides estimates of total operating revenue and percentage of revenue by customer class for communication key. Under the accrual basis of accounting revenues are recorded at the time of delivering the service or the merchandise even if cash is not received at the time of delivery. Often the term income is used instead of revenues. A company s revenue which is reported on the first line of its income statement is often described as sales or service revenues.
There are many different types of revenues including product sales consulting fees and other services rent and even commission based fees.
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