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Yes it is, it's just slightly different terminology. You would probably find cost of revenue in a serivice based company. It should be noted that in final published accounts it's always referred to as cost of sales.
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What is journal entry for cash sales?
like the following: cash in hand (Dr) Sales or Sales Revenues (Cr) & Cost of goods Sold (Dr) inventory (Cr)
Are 'revenue' and 'net sale' the same thing?
Net sales and revenues are important in the business community. Both are needed for a business to succeed. However, they are not the same thing. Sales lead to revenue.
What are revenues?
Revenues = Sales Revenue is the amount of money charged for the usual product or services sold by a business.
What three aspects of cash flows affect the value of any investment?
Sales revenues, operating cost and taxes, and required new investments in operating capital.
When is sales revenues usually considered earned?
Sales revenue are usually considered earned when "goods are transfered from the seller to the buyer".
Are revenues the same as net income?
Revenues are earnings from sales of products and net income is the difference between revenues and expenses.
Is net sales and net revenues the same thing?
No, a company's revenues may come many sources such as sales, securities, derivatives, etc.; sales result from merchandise sales.
Is net revenues the same as net sales?
yes
What will come when Sales revenues minus the cost of goods sold equals?
profit
Is cost of sales or turnover the same as net sales?
Cost of sales is the expenses to earn sales so cost of sales and net sales are not same, formula for gross profit is as follows: Gross profit = Sales - Cost of sales
What is journal entry for cash sales?
like the following: cash in hand (Dr) Sales or Sales Revenues (Cr) & Cost of goods Sold (Dr) inventory (Cr)
Net sales is sales less what?
Net Sales is the the Total Sales less the Cost of Goods Sold. ========================================= Net sales refers to revenues earned by businesses after selling a product/service. Sales less discounts, returns and allowances for damages/losses equals sales.
Are 'revenue' and 'net sale' the same thing?
Net sales and revenues are important in the business community. Both are needed for a business to succeed. However, they are not the same thing. Sales lead to revenue.
What journal columns are used to record receiving cash from sales?
as a record cash payment bill.like the following:cash in hand (Dr)Sales or Sales Revenues (Cr)&Cost of goods Sold (Dr)inventory (Cr)
What are revenues?
Revenues = Sales Revenue is the amount of money charged for the usual product or services sold by a business.
What represents the profits from revenues after deducting only the cost of goods sold?
After only deducting cost of goods sold from revenues is the Gross profit which is the difference between revenues and cost of goods sold.
What three aspects of cash flows affect the value of any investment?
Sales revenues, operating cost and taxes, and required new investments in operating capital.
