Service Revenue
Service revenue is income earned from providing services rather than selling physical goods. It is recognised when the service is rendered, not necessarily when cash is received, following accrual accounting. Examples include consulting, legal, accounting, or software services. It appears as operating revenue on the income statement.
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Sales Revenue
Sales revenue is the total income generated from selling goods or services before deducting any costs or expenses. It’s the…
Segment Reporting
Segment reporting breaks down a company’s financial results by business unit, geography, or product line. It enhances transparency and helps…
Sunk Cost
A sunk cost is a past expense that cannot be recovered and should not affect future decisions. Examples include money…
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