1. For a company, this is the total amount of money received by the company for goods sold or services provided during a certain time period. It also includes all net sales, exchange of assets; interest and any other increase in owner's equity and is calculated before any expenses are subtracted. Net income can be calculated by subtracting expenses from revenue. In terms of reporting revenue in a company's financial statements, different companies consider revenue to be received, or "recognized", different ways. For example, revenue could be recognized when a deal is signed, when the money is received, when the services are provided, or at other times. There are rules specifying when revenue should be recognized in different situations for companies using different accounting methods, such as cash basis and accrual basis accounting.
2. For the government, the increase in assets of governmental funds that do not increase liability or recovery of expenditure. This revenue is obtained from taxes, licenses and fees.
Related information about revenue:
- Revenue - Wikipedia, the free encyclopedia
In business, revenue or turnover is income that a company receives from its normal business activities, usually from the sale of goods and services to customers.
- What is revenue? definition and meaning
Definition of revenue: For a company, this is the total amount of money received by the company for goods sold or services provided during a certain time period.
- Revenue Definition | Investopedia
The amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. It is the "top line" ...
- Revenue | Define Revenue at Dictionary.com
the income of a government from taxation, excise duties, customs, or other sources, appropriated to the payment of the public expenses. 2. the government ...
- Revenue - Merriam-Webster Online
the total income produced by a given source <a property expected to yield a large annual revenue>. 2. : the gross income returned by an investment. 3 ...
- Revenue - Irish Tax & Customs
The Office of the Revenue Commissioners is the primary state body responsible for the assessment and collection of taxes and duties in the Republic of Ireland.
- Louisiana Department of Revenue Homepage
Provides information on taxes, forms, services, laws and policies.
- Department of Revenue
As Tennessee's chief tax collector, the Department of Revenue is responsible for the administration of state tax laws and motor vehicle title and registration laws ...