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2. Revenue - Wikipedia

   en.wikipedia.org/wiki/Revenue

   In accounting, revenue is a subsection of the equity section of the balance statement, since it increases equity. It is often referred to as the "top line" due to its position at the very top of the income statement. This is to be contrasted with the "bottom line" which denotes net income (gross revenues minus total expenses). [3]

3. Revenue recognition - Wikipedia

   en.wikipedia.org/wiki/Revenue_recognition

   In accounting, the revenue recognition principle states that revenues are earned and recognized when they are realized or realizable, no matter when cash is received. It is a cornerstone of accrual accounting together with the matching principle .

4. Income statement - Wikipedia

   en.wikipedia.org/wiki/Income_statement

   Sankey Diagram - Income Statement (by Adrián Chiogna) An income statement or profit and loss account [1] (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, statement of earnings, operating statement, or statement of operations) [2] is one of the financial statements of a company and ...

5. Installment sales method - Wikipedia

   en.wikipedia.org/wiki/Installment_Sales_Method

   The installment sales method, is used to recognize revenue after the sale has occurred and when sales are stipulated under very extended cash collection terms. [3] In general, when the risk of not being able to collect is reasonably high and when there is no reasonable basis for estimating the proportion of installment accounts, revenue recognition is deferred, and the installment sales method ...

6. Chart of accounts - Wikipedia

   en.wikipedia.org/wiki/Chart_of_accounts

   A liability is a present obligation of an entity to transfer an economic benefit (CF E37). Common examples of liability accounts include accounts payable, deferred revenue, bank loans, bonds payable and lease obligations. Equity accounts are used to recognize ownership equity. The terms equity [for profit enterprise] or net assets [not-for ...

7. Sales (accounting) - Wikipedia

   en.wikipedia.org/wiki/Sales_(accounting)

   In bookkeeping, accounting, and financial accounting, net sales are operating revenues earned by a company for selling its products or rendering its services. Also referred to as revenue , they are reported directly on the income statement as Sales or Net sales .