Definition Revenue From Ordinary Activities

Revenue is disclosed in the statement of comprehensive income as a separate line item.

Definition revenue from ordinary activities. Revenue is not income. Business n uncount also n in pl usu with supp a boom year at the cinema with record advertising revenue and the highest ticket sales since 1980. Sections 4 and 19 of this act spell out the budget ceiling for each constituency which shall be three quarters of a set percentage of all the government ordinary revenue collected in every financial year divided equally amongst all the constituencies and a further amount equal to a quarter the set percentage of the annual ordinary revenue divided by the national poverty index and multiplied. Service businesses such as law firms and barber shops receive most of their revenue from rendering services.

For some businesses such as manufacturing or grocery most revenue is from the sale of goods. Revenue revenues plural revenue is money that a company organization or government receives from people. This is unsatisfactory because the term is no longer defined in ifrs. Business revenue is money income from activities that is ordinary for a particular corporation company partnership or sole proprietorship.

Income refer to amounts that can be received or are received from many activities such as ordinary activities financial activities extraordinary activities or reasons such as sales services impairments grants discounts recoupment and others. The definition of revenue rests on the concept of ordinary activities. When it was defined in ias 8 of 1993 it was a very wide concept.