From the course: A Guide to Understanding Financial Statements

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Revenue

Revenue

From the course: A Guide to Understanding Financial Statements

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Revenue

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- [Instructor] And now we turn our attention to the very first area in our profit and loss, revenue. Revenue represents the income that you earn from sales. The journal entries to record revenue is what accountants would use in order to get it into the general ledger. You don't need to worry about this, but just in case you have an accounting background, I'm going to keep this here throughout our course to help you familiarize yourself with how exactly these entries materialize. Like we spoke about, your revenue is at the very top of your profit and loss. It is the very first section that you should expect to read. There are many different types of revenues, such as subscription revenue, product revenue, implementation revenue, revenue from affiliates or sponsorships, and the list continues. It really depends ultimately on what exactly your business model is. It's possible that you're a brick and mortar shop. It's possible that maybe you have a website, or a SaaS tool. You can even be…

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