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Definition of revenue-driven expenses
Operating expenses that vary in proportion to
For investment companies, the management fee and "other expenses,"
Bond issued by local government agencies on behalf of corporations.
A bond issued by a municipality to finance either a project or an enterprise where the issuer
A fund accounting for all revenues from an enterprise financed by a municipal revenue bond.
Total sales and other revenue for the period shown. Known as "turnover" in the UK.
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 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.
What was spent to run the sales part of a company, such as sales salaries, travel, meals, and lodging for salespeople, and advertising.
Those that vary with the amount of goods you produce or sell. These may include utility bills, labor, etc.
The costs incurred in buying, making or producing goods and services.
Income earned from the sale of goods and services.
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.
Costs involved in running the company.
expenses that have been paid for but have not yet been used up; examples are prepaid insurance and prepaid rent.
Amounts earned by the company from the sale of merchandise or services; often used interchangeably with the term sales.
Money that has been paid by customers for work yet to be done or goods yet to be provided.
accrued expenses payable
The account that records the short-term, noninterest-
fixed expenses (costs)
expenses or costs that remain the same in amount,
expenses that vary in close proportion to changes
expenses that change with changes in either sales volume
the revenue resulting from an additional contemplated sale
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
An inflow of cash, accounts receivable, or barter from a customer in exchange
A payment from a customer that cannot yet be recognized as earned
Internal Revenue Code
Refers to all federal tax laws as a group.
Internal Revenue Service
A federal agency empowered by Congress to interpret and enforce tax-related laws.
revenue recognized on a nonexistent sale or service transaction.
revenue recognized for a confirmed sale or service transaction in a period
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
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
revenue recognized from the provision of services as opposed to the sale of
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.
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.
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