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 …
Revenue Recognition under FRS 102
Understanding the point at which sales can actually be recognised within your business’ financial statements is a crucial step in preparing a set of accounts. In this post we look …