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What is the difference between Income and Revenue?
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Answer Posted / akanksha saini
Revenue:
The top line on an income statement is revenue. This is the
total amount of sales that a company has for the period
covered by the statement. This amount may stand alone, or
may be reduced by sales returns and allowances.
It is important to know how much money is being generated
from sales, but it is only half the picture. The next step
is to know how much goes out, and how much is left.
Income: Income is sometimes used instead of the word
revenue: some people refer to the rent they receive as rent
income. Generally, accountants use the word income to mean
“net of revenues and expenses.” For example, a retailer’s
income from operations is sales minus the cost of goods sold
minus operating expenses
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