Accounting
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Sales Revenue: Definition, Calculation & Importance
Sales revenue is the income received by a company from its sales of goods or the provision of services. In accounting, the terms “sales” and “revenue” can be, and often a
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Sales Per Square Foot: Definition, Calculation & Importance
Sales per square foot is a metric commonly used by retail companies to determine the amount of revenueSales RevenueSales revenue is the income received by a company from its sales of goods or the prov
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Understanding the Sales and Collection Cycle: A Comprehensive Guide
The Sales and Collection Cycle, also known as the Revenue, Receivables, and Receipts (RRR) Cycle, is composed of various classes of transactions. The sales class and receipts class of transactions are
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Rolling Forecasts: A Comprehensive Guide to Continuous Financial Planning
A rolling forecast is a type of financial modelTypes of Financial ModelsThe most common types of financial models include: 3 statement model, DCF model, M&A model, LBO model, budget model. Discove
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Revenue vs. Income: Understanding the Key Differences
This guide provides an overview of the main differences between revenue vs income. RevenueSales RevenueSales revenue is the income received by a company from its sales of goods or the provision of ser
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Revenue Variance Analysis: Understanding Sales Performance & Forecasting
Revenue Variance Analysis is used to measure differences between actual sales and expected sales, based on sales volumeDays Sales in Inventory (DSI)Days Sales in Inventory (DSI), sometimes known as in
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Understanding Revenue Streams: A Comprehensive Guide
Revenue streams are the various sources from which a business earns money from the sale of goods or the provision of services. The types of revenue that a business records on its accounts depend on th
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Revenue Recognition Principle: Definition & Importance
The revenue recognition principle dictates the process and timing by which revenue is recorded and recognized as an item in a company’s financial statements. Theoretically, there are multiple po
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Revenue Recognition: A Comprehensive Guide (IFRS & GAAP)
Revenue recognition is an accounting principle that outlines the specific conditions under which revenueSales RevenueSales revenue is the income received by a company from its sales of goods or the pr
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Understanding Revenue: A Comprehensive Guide for Businesses
Revenue is the value of all sales of goods and services recognized by a company in a period. Revenue (also referred to as Sales or Income) forms the beginning of a company’s income statementInco
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Retained Earnings: Definition, Calculation & Importance
Retained Earnings (RE) are the accumulated portion of a business’s profits that are not distributed as dividends to shareholders but instead are reserved for reinvestment back into the business.
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Research & Development (R&D): Definition & Importance
Research and Development (R&D) is a process by which a company obtains new knowledge and uses it to improve existing products and introduce new ones to its operations. R&D is a syste
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Understanding Reporting Periods: A Comprehensive Guide
A reporting period, also known as an accounting period, is a discrete and uniform span of time for which the financial performance and financial position of a company are reported and analyzed. In oth
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Understanding the Accounting Reporting Cycle: A Comprehensive Guide
The reporting cycle involves the running, managing, updating, and reporting of a company’s accounts. The cycle usually runs concurrently with the planning and budgeting cycles. It ensures that t
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Repo 105 Explained: Understanding the Accounting Scandal
Repo 105 is an accounting gimmickTop Accounting ScandalsThe last two decades saw some of the worst accounting scandals in history. Billions of dollars were lost as a result of these financial disaster
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Understanding Rent Expense: Definition & Significance
Rent expense refers to the total cost of using rental property for each reporting period. It is typically among the largest expenses that companies report. Only two expenses are usually larger than re
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Regressive Taxes: Definition, Examples & Impact on Income Inequality
A regressive tax is a tax applied in a way that the tax rate decreases with the increase of the taxpayer’s incomeRemunerationRemuneration is any type of compensation or payment that an individua
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Account Reconciliation: Definition, Process & Importance
Reconciling an account is an accounting process that is used to ensure that the transactions in a company’s financial records are consistent with independent third party reports. Reconciliation
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Understanding Financial Reconciliation: A Comprehensive Guide
Reconciliation is the process of matching transactions that have been recorded internally against monthly statements from external sources such as banks to see if there are differences in the records
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Understanding Inventory Quality: Definition & Importance
Inventory refers to all goods and materials that are held by a business with the goal of selling them for a profit or for use in the production process of finished goods. In the manufacturing industry
Accounting
- Understanding Finance: A Comprehensive Overview
- Dynamic Budgeting for Small Businesses: A Practical Guide
- Understanding Permanent vs. Temporary Tax Differences
- Objectives of Income Tax Accounting: A Comprehensive Overview
- Small Business Accounting: Automate & Optimize for Your Needs
- Contingent Liabilities: Definition, Accounting & Examples
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Financial Instruments: Definition, Types & How They WorkFinancial instruments are contracts for monetary assets that can be purchased, traded, created, modified, or settled for. In terms of contracts, there is a contractual obligation between involved part...
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