What is an Income Statement?
The income statement is one of the key financial statements that businesses produce. It provides an insight into a business’ performance as it allows the user to see a business’ …
How to Calculate Revenue
In order to create an Income statement you will need to be able to calculate the revenue figure which will go at the top. As discussed in our previous post, …
The Difference Between Gross and Net Revenue
When talking about sales made from a business it is quite common to hear the terms gross and net revenue. In the UK most businesses have to add value added …
What is Revenue?
To put it simply, revenue is the money earned by a business whenever it makes a sale. The main aim of most businesses is to make as many sales as …
Journal Entries for Revenue
A journal entry must be made each time a business makes a sale. This journal may be called a revenue, sales or income journal and the purpose of it is …