Difference between revisions of "Fiscal Revenue"
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| − | [[Fiscal Revenue]] (or, simply, [[revenue]]; hereinafter, the ''Revenue'') is an amount earned by performing services for customers or selling goods to customers | + | [[Fiscal Revenue]] (or, simply, [[revenue]]; hereinafter, the ''Revenue'') is an amount earned by performing services for customers or selling goods to customers; it can be in the form of cash or [[accounts receivable]]. |
The ''Revenue'' can also refer to a group of [[financial account]]s that represent sales. The ''Revenue'' is a subdivision of [[owner's equity]]. As the ''Revenue'' increases, [[owner's equity]] increases, and vice versa. [[Expenses]] and [[Sales Returns and Allowances]] are two most common [[adjusting account]]s for the ''Revenue''. | The ''Revenue'' can also refer to a group of [[financial account]]s that represent sales. The ''Revenue'' is a subdivision of [[owner's equity]]. As the ''Revenue'' increases, [[owner's equity]] increases, and vice versa. [[Expenses]] and [[Sales Returns and Allowances]] are two most common [[adjusting account]]s for the ''Revenue''. | ||
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==Definitions== | ==Definitions== | ||
According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| − | :[[Revenue]]. | + | :[[Revenue]]. An amount earned by performing services for customers or selling goods to customers; it can be in the form of cash or [[accounts receivable]]. Revenue is a subdivision of [[owner's equity]]: As [[Fiscal Revenue|revenue]] increases, [[owner's equity]] increases. |
==Related concepts== | ==Related concepts== | ||
Revision as of 13:24, 15 December 2018
Fiscal Revenue (or, simply, revenue; hereinafter, the Revenue) is an amount earned by performing services for customers or selling goods to customers; it can be in the form of cash or accounts receivable.
The Revenue can also refer to a group of financial accounts that represent sales. The Revenue is a subdivision of owner's equity. As the Revenue increases, owner's equity increases, and vice versa. Expenses and Sales Returns and Allowances are two most common adjusting accounts for the Revenue.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Revenue. An amount earned by performing services for customers or selling goods to customers; it can be in the form of cash or accounts receivable. Revenue is a subdivision of owner's equity: As revenue increases, owner's equity increases.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
