Fiscal Revenue

From CNM Wiki
Revision as of 13:24, 15 December 2018 by Gary (talk | contribs)
Jump to: navigation, search

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

Related coursework