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Definition of revenue-driven expenses
Operating expenses that vary in proportion to
expenses that have to be recorded in order for the financial statements to be accurate. Accrued expenses usually do not involve the receipt of an invoice from the company providing the goods or services.
The account that records the short-term, noninterest-
For investment companies, the management fee and "other expenses,"
The costs incurred in buying, making or producing goods and services.
Costs involved in running the company.
revenue recognized on a nonexistent sale or service transaction.
Cost of doing business which does not change with the volume of business. Examples might be rent for business premises, insurance payments, heat and light.
expenses or costs that remain the same in amount,
What was spent to run the non-sales and non-manufacturing part of a company, such as office salaries and interest paid on loans.
the revenue resulting from an additional contemplated sale
Bond issued by local government agencies on behalf of corporations.
Refers to all federal tax laws as a group.
A federal agency empowered by Congress to interpret and enforce tax-related laws.
The amount sold after customers’ returns, sales discounts, and other allowances are taken away from
The total amount that was spent to run a company this year.
The amount of money the company must spend on overhead, distribution, taxes, underwriting the risk and servicing the policy. It is a factor in calculating premium rates.
revenue recognized for a confirmed sale or service transaction in a period
expenses that have been paid for but have not yet been used up; examples are prepaid insurance and prepaid rent.
Realizable Revenue A revenue transaction where assets received in exchange for goods and
services are readily convertible into known amounts of cash or claims to cash.
A revenue transaction where goods and services are exchanged for cash or
Income earned from the sale of goods and services.
Amounts earned by the company from the sale of merchandise or services; often used interchangeably with the term sales.
An inflow of cash, accounts receivable, or barter from a customer in exchange
A bond issued by a municipality to finance either a project or an enterprise where the issuer
a responsibility center for which a manager is accountable only for the generation of revenues and has no control over setting selling prices, or budgeting or incurring costs
A fund accounting for all revenues from an enterprise financed by a municipal revenue bond.
The act of recording revenue in the financial statements. revenue should
Sales Revenue Revenue recognized from the sales of products as opposed to the provision of
What was spent to run the sales part of a company, such as sales salaries, travel, meals, and lodging for salespeople, and advertising.
revenue recognized from the provision of services as opposed to the sale of
Total sales and other revenue for the period shown. Known as "turnover" in the UK.
Money that has been paid by customers for work yet to be done or goods yet to be provided.
A payment from a customer that cannot yet be recognized as earned
expenses that vary in close proportion to changes
Those that vary with the amount of goods you produce or sell. These may include utility bills, labor, etc.
expenses that change with changes in either sales volume
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