Equipment Rental Revenue
Code: 4134
👁 Views: 26
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Credit |
Definition
Revenue from renting heavy equipment, machinery, and vehicles used in construction to other companies.
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IFRS 15
Revenue from Contracts with Customers
US GAAP
ASC 606
Revenue from Contracts with Customers
❓ Frequently Asked Questions
Q: How is equipment rental revenue recorded?
A: Dr. Bank or Receivables, Cr. Equipment Rental Revenue, usually recognized on a straight-line basis over the rental period.