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...
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)...
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 ...
◦Thedeterminationofcostofgoodssoldinvolvesallocatingthetotalcostofgoodsavailableforsalebetweenthecostofgoodssoldandthecostoftheendinginventory.(2)SellingExpenses ◦Definition Expensesoccurredintheprocessofsellingproducts,semi-finishedgoodsandservices.◦Examples packagingexpensesbornebythecompany,...
expenseisthedecreaseineconomicresourcesresultingfromreductionsofassetsoroccurrenceofliabilities.ExamplesofexpensesCostofemployees’salaries,advertising,rent,utilities,anddepreciation.Alltheseexpensesareessentialtoattractandservicecustomersandtherebyearnrevenue8.2ExpenseCostandexpenseusuallyoccuratthesametime,oratleastinthesame...
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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...
In cash accounting, revenue and expenses are recognized when they are received and paid, respectively. That means there is no unearned revenue. Once you are paid, the revenue goes on yourincome statement. Unearned revenue in the accrual accounting system ...
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...
Accrued expenses are the expenses of a company that have been incurred but not yet paid. Pre-paid subscriptions with services rendered over time will defer revenue over the life of the contract and use accrual accounting to demonstrate how the company is doing over the longer term. ...