Other Income Vs Other Revenue

For example during the year the company make revenue usd500 000 cost of sales usd300 000 and other income usd5 000 then the extract p l of the company is as following.

Other income vs other revenue. What is the difference between revenue income and gain. In business revenue constitutes a business top line total income through goods services while income is its bottom line revenue minus the costs of doing business. They are both involved in the production cycle. Other comprehensive income might show how the unrealized performance of a firm s investment portfolio can reveal the possibility of major losses down the road.

Sources of nonoperating income or nonoperating expense that may be disclosed include amounts earned from dividends interest on securities profits losses on securities net and miscellaneous other income or income deductions. This guide provides an overview of the main differences between revenue vs income. Income versus revenue comparison chart. Revenue is the total amount of income generated by the sale of goods or services while income is earnings or profit revenue minus expenses.

Revenue sales revenue sales revenue is the income received by a company from its sales of goods or the provision of services. Revenue is the amount earned from a company s main operating activities such as a retailer selling merchandise or a law firm providing legal services. In accounting a gain is the result of a peripheral activity such as a retailer selling one of its old delivery trucks. Revenue is the top line of the income statement whereas the profit is the bottom line.

While revenue includes the gross earning from primary operations without any deductions profit is the resultant income after accounting for expenses expenditures taxes and additional income and costs in the revenue. Profit revenue other income total expenses. In accounting the terms sales and revenue can be and often are used interchangeably to mean the same thing. It s tempting to think that the relationship between revenue and income is a pretty simple one that as long as you re keeping one of them healthy the other will be healthy too.

Proceeds from the sales of products and services to customers as well as other activities like investment. What is revenue vs income. In income statement other income is presented after the other gross profit. The entire disclosure for other income or other expense items both operating and nonoperating.

Other income and expenses. Another term for revenue is top line which means it is at the top of the company s financial statements. Comprehensive income is the sum of. Other income 1 000.