Introduction: On the contrary to what the names suggest, unearned revenue and deferred revenue are both the same thing. They are both incomes for which the cash has been collected, but the obligations of delivering goods and services are yet to be performed. This concept arises from the accrual basis of accounting, which requires companies […]
Unearned Revenue Vs. Deferred Revenue (Explained) Read More »
Unearned Revenue can be defined as the money that is received by an individual or a company, in exchange for a service or a product that is yet to be provided or delivered. Unearned Revenue can be defined as a prepayment for goods and services, that a company is expected to supply to the purchaser
Unearned Revenue vs Accrued Revenue – What Are the Key Different? Read More »
As far as unearned revenue is concerned, it can be seen that it is mainly defined as the amount that has been collected from the customer, but in return for the amount that has been collected, subsequent payment has not been collected. Therefore, as a result of these non-collections, it can be considered as a
Unearned Revenue Vs Accounts Payable – What Are The Key Different? Read More »
Definition: Unearned revenue is the amount that the supplier receives in advance from a customer for which the goods or services are not supplied to or satisfied by the customers. This is the cash received by the seller or the company, but they have not yet performed their duties, or their performance is not satisfied
What is Unearned Revenue? Definition, Nature, Recognition Read More »
Introduction: Unearned revenue and prepaid expense are the same things but in the context of different people. Unearned revenue is the money received in advance for the services or products that are still to be delivered to the customer at a future date. This is a liability amount which is an obligation over the company.
Unearned Revenues Vs. Prepaid Expenses – Key Different Explained Read More »
Introduction: Unearned revenue is the cash proceeds received by a company or individual for a service or product that the company or individual still has to deliver to the customer. It is an advance payment from a customer that is expecting the delivery of services or products at a later date. The company cannot recognize
IS UNEARNED REVENUE AN ASSET OR LIABILITY? Read More »
Introduction: Unearned revenue sometimes referred to as deferred revenue is the payment received in advance for the products or services that will be delivered at some point in the future. Unearned revenue is based on accrual accounting, in which the revenue is recognized only when the products or services are delivered to the customer, not
HOW IS UNEARNED REVENUE CLASSIFIED IN FINANCIAL STATEMENTS? Read More »