What does Revenue mean in accounting?

Accounting Definition and Types The amount a company earns in revenue can determine the number of products and services sold to customers. Revenue is generally a financial metric that's prioritized by executives, and the total amount shows up on an income statement.

What is an example of a revenue account?

Under the accrual basis of accounting, revenues are recorded at the time of delivering the service or the merchandise, even if cash is not received at the time of delivery. Often the term income is used instead of revenues. Examples of revenue accounts include: Sales, Service Revenues, Fees Earned, Interest Revenue, Interest Income.

What is the difference between accrued revenue and deferred revenue?

Accrued revenue is the revenue that a company earns for goods and services that have been delivered but not yet paid for by the customer. In accrual accounting, revenue is reported at the time of a sales transaction and not necessarily when the funds have been received. Deferred revenue, or unearned revenue, is the opposite of accrued revenue.