Revenue, defined and explained

This video deals with the concept of Revenue in Financial Accounting. The video explains what Revenue is, highlights different types, and illustrates why Revenue is different from a Gain with an example.
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[@prudentwomen]

I'm only on video 38 of the Financial Accounting course/playlist, but I plan to keep going. Wow! Your videos are so great! I am SO grateful that you have spent so much time putting together such quality and valuable content... and offering it FREE to us! You are my accounting hero!!! Thank you, thank you, THANK YOU!!!

[@jeniferalcantara6624]

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[@MyFinancialFocus]

I binged watch every video on this channel twice lol.

[@dlarahjoel]

Honestly, Michael, your teaching style is absolutely brilliant. And allow me to say, that I am myself a Professor of (labour) law in Germany. I am not exaggerating when I say: I have never learned so much over such a short period of time in my life, let alone about financial topics. And that is thanks to your teaching style. It would be very interesting to know whether you are in fact a "natural" or whether you have "learned" the way you teach during the years, maybe also by reading about instructional design and cognitive psychology. Anyway, I am very impressed by your teaching style and your entire website and I am very thankful for it. Thank you so much! PS: I would never have thought that (re-)learning about balance sheets and income statements and ratios would be that fun. All the best for you and your family in these difficult times! Your sincerely, Harald

[@jeniferalcantara6624]

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[@user-lz3os5vc6q]

Thank you 🙏

[@Edspira]

You’re welcome 😊

[@icecold1805]

Is this like... the UNIVERSAL definition or Revenue, or how we should understand revenue in the context of the Income Statement? are other places where the word revenue means something different?.

[@snootax9003]

thanks that helped a lot

[@Edspira]

No problem. Thanks for watching!

[@diontaedaughtry974]

Thank you this was very helpful and informative 👍👍

[@toprandomvideos2123]

Could you do a video with a basic accounting walkthrough of buying a liquid tradable security and then selling it regarding accounting for revenue, profit, and costs for a net loss and then a net gain scenario based on current standards in the US? It should be pretty straight forward. I would be interested to see it because I've heard there are apparently multiple ways to go about this and some of it may have changed recently but frankly like many I'm not an accounting specialist.

[@JoseReyes-jq9kw]

Very well explained, thanks for the video.

[@marybellandry1580]

Great

[@GRiiECO]

Why no mention of the non-recurring concept? Isn't that essentially what you're referring to in this video by "gains"?

[@Edspira]

Yes, gains and losses are one-time transactions that don't have to do with the company's core business operations. I actually have another video on gains and losses that goes into more detail: th-cam.com/video/7cfvM6HdryM/w-d-xo.html Thanks for watching!

[@pradeep200417]

Why is interest income part of revenue? Income from interest is also not the core business operation of the firm.

[@Edspira]

It depends on the type of company. For a bank, interest revenue is part of the core operations. For a grocery store, interest revenue would be considered nonoperating income.

[@pradeep200417]

@@Edspira Got it. Thank You.

[@karkulajda]

If I run the restaurant then dividends from investments do not seem to be related to my core business. Shouldn’t it be rather gain?

[@Michael-ih8xq]

Technically, gains would still be considered revenue (non-operating revenue).

[@thelordkazookid8152]

My head hurts alot

[@francesmilhone1591]

Employee getting paid only 20 hours and getting unploymentand now state is employed 600 dolllars