Revenue
Code: 4000
👁 Views: 171
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Credit |
Definition
Represents revenues generated from main operations
Sub-accounts
4100
Operating Revenue
4800
Other Revenue
📐 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: What is the difference between revenues and gains?
A: Revenues come from main activities (e.g., sale of goods, services). Gains come from secondary or non-recurring activities (e.g., gain on sale of fixed assets, foreign exchange gains).
Q: How are revenues presented on the income statement?
A: They appear as a separate line item, and may be detailed by type (sales, services, contracts, rentals, interest, etc.) or by segment.