Revenue
Revenue is the total income a business earns from its core operations, such as selling goods or providing services. It appears at the top of the income statement and serves as the starting point for calculating profit. It’s often referred to as the “top line” in financial analysis.
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Reverse Entry
A reverse entry is made at the beginning of a new accounting period to cancel out an adjusting journal entry…
Revenue Recognition
Revenue recognition is the accounting principle that determines when income should be recorded. Under accrual accounting, revenue is recognised when…
Retained Earnings
Retained earnings represent the cumulative net profit a company keeps after distributing dividends to shareholfers. Reported under equity on the…
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