What is Revenue? — Types and recording
Revenue is the total amount of money or receivables a business earns from selling goods, providing services, or other business activities during a period.
Definition
Revenue is the total amount of money or receivables a business earns from selling goods, providing services, or other business activities during a period.
Details
Types of revenue: operating (from core activity), financial (interest, exchange differences) and extraordinary (property sales). Revenue is recorded when earned (accrual principle), not when collected. For VAT payers, revenue is the base for output VAT.
Example
IT company: operating revenue from software development 5M MKD + financial revenue from interest 50K MKD = total revenue 5.05M MKD.