8.2.3 Main Expense Items (2)Selling ExpensesDefinitionExpenses occurred in the process of selling products, semi-finished goods and services. Examples packaging expenses borne by the company, transportation expensesadvertising expensesinsurance expensescommission expenses……8.2.3 Main Expense Items (3)...
结清账户), expenses(费用), general ledger(总账), income, journal(日记账), loss, matching, net assets(净资产=财富=所有者权益), period expenses(期间费用), recognition(确认), retained earnings(留存收益), revenues, temporary accounts/nominal accounts(虚账户、暂时性账户:临时性账户包括所有的利润表账...
◦Thedeterminationofcostofgoodssoldinvolvesallocatingthetotalcostofgoodsavailableforsalebetweenthecostofgoodssoldandthecostoftheendinginventory.（2）SellingExpenses ◦Definition Expensesoccurredintheprocessofsellingproducts,semi-finishedgoodsandservices.◦Examples packagingexpensesbornebythecompany,...
Answer and Explanation:1 When the seller satisfies the performance obligation but is yet to receive the payments for the same, the revenue should be accrued. Revenue should... Learn more about this topic: Accrued Revenues & Expenses | Definition, Types ...
Revenue and income are sometimes used interchangeably. However, these two terms do usually mean different things. Revenue is often used to measure the total amount of sales a company makes from its goods and services. Income is often used to incorporate expenses and report the net proceeds a co...
Revenue is the value of all sales of goods and services recognized by a company in a period. Revenue (also referred to as Sales or Income) forms the beginning of a company’sincome statementand is often considered the “Top Line” of a business. Expenses are deducted from a company’s ...
Revenues and gains should be recorded only when they are reasonably certain, and expenses and losses should be recorded as soon as they are probable. Going concern principle One can assume that a company will continue to operate for the foreseeable future, and that it will not be liquidated or...
1 This approach helps highlight how much sales are contributing to long-term growth and profitability. Key Takeaways Deferred revenue is the portion of a company's revenue that has not been earned, but cash has been collected from customers in the form of prepayment. Accrued expenses...
Revenue is one of the basic components of a financial statement, with the others being: assets, liabilities, owners’ equity, and expenses. Revenue pays for all expenses associated with operating a company’s activities, ultimately leading to its bottom line figure, net income. While a company...
Hence, revenue is the amount earned from customers and clients before subtracting the company’s expenses. Revenue vs Net Income While revenue is the top line on a company’s income statement, net income is often referred to as the bottom line. The difference between the amount of revenue ...