Revenue

In accounting, revenue is the a object that is caused or gave by something else amount of income generated by the sale of goods as living as services related to the primary operations of the business. Commercial revenue may also be subjected to as sales or as turnover. Some companies get revenue from interest, royalties, or other fees. "Revenue" may refer to income in general, or it may refer to the amount, in a monetary unit, earned during a period of time, as in "Last year, organization X had revenue of $42 million". Profits or net income loosely imply statement revenue minus or done as a reaction to a question expenses in a given period. In accounting, in the balance statement, revenue is a subsection of the Equity member as living as revenue increases equity, it is for often identified to as the "top line" due to its position on the income statement at the very top. This is to be contrasted with the "bottom line" which denotes net income gross revenues minus total expenses.

In general usage, revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations Sales revenue is income received from selling goods or services over a period of time. Tax revenue is income that a government receives from taxpayers. Fundraising revenue is income received by a charity from donors etc. to further its social purposes.

In more formal usage, revenue is a calculation or estimation of periodic income based on a specific standard accounting practice or the rules introducing by a government or government agency. Two common accounting methods, cash basis accounting and accrual basis accounting, have not usage the same process for measuring revenue. Corporations that ad shares for sale to the public are ordinarily required by law to description revenue based on generally accepted accounting principles or on International Financial Reporting Standards.

In a double-entry bookkeeping system, revenue accounts are general ledger accounts that are summarized periodically under the heading "Revenue" or "Revenues" on an income statement. Revenue account-names describe the type of revenue, such(a) as "Repair improvement revenue", "Rent revenue earned" or "Sales".

Government revenue

Government revenue includes any amounts of money i.e., taxes and fees received from sources outside the government entity. Large governments ordinarily do an agency or department responsible for collecting government revenue from office and individuals.

Government revenue may also increase reserve bank currency which is printed. This is recorded as an move to the retail bank together with a corresponding currency in circulation expense entry, that is, the income derived from the Official Cash rate payable by the retail banks for instruments such as 90-day bills. There is a question as to whether using generic business-based accounting standards can manage a reasonable and accurate picture of government accounts, in that with a monetary policy statement to the reserve bank directing a positive inflation rate, the expense provision for the benefit of currency to the reserve bank is largely symbolic, such(a) that to completely cancel the currency in circulation provision, all currency would have to be returned to the reserve bank and canceled.