Posted on September 18th, 2008 by
kclim in
Fundamental Accounting Principles
Interest income is earned usually through deposits placements with financial institutions. Sometimes, it is also earned through lending of money to third parties (some countries have strict laws governing money lending activities). Interest is the price that b...
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Tagged As: accountancy, accounting, bookkeeping, interest income, other income, revenue recognition
Posted on September 18th, 2008 by
kclim in
Fundamental Accounting Principles
For profit orientated entities, revenue is the “bloodline” of the businesses. The cash collected from invoicing or billing is vital in keeping the businesses up and running – meeting all sorts of daily expenses. Depending on the nature of the bus...
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Tagged As: accountancy, accounting, accounts, bookkeeping, revenue recognition, sale of goods, services rendered, small business, transactions
