For a company, this is the total amount of money received by the company
for goods sold or services provided during a certain time period. It
also includes all net sales, exchange of assets; interest and any other
increase in owner's equity and is calculated before any expenses are
subtracted. Net income can be calculated by subtracting expenses from
revenue. In terms of reporting revenue in a company's financial
statements, different companies consider revenue to be received, or
"recognized", different ways. For example, revenue could be recognized
when a deal is signed, when the money is received, when the services are
provided, or at other times. There are rules specifying when revenue
should be recognized in different situations for companies using
different accounting methods, such as cash basis and accrual basis
accounting.
2. For the government, the increase in assets of
governmental funds that do not increase liability or recovery of
expenditure. This revenue is obtained from taxes, licenses and fees
