Revenue and Forecasting - 99209

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  • Posted on: Tue 28 Nov, 2017
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Revenue and Forecasting


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Revenue and Forecasting

Revenue is the total amount earned by a business, organization or an entity in its daily operations. Revenue is recognized when it is earned and not when it is received as cash.  In the business world, there are two types on revenues: operating revenues which originate from the business’s main operations such as sales, and non-operating revenues which are earned from side activities such as interest revenue, and rent revenue. However, there is an exception if the business main industry is renting, then in that case the revenue will be an operating revenue.

Revenue is not only earned in the business world, but also in the public sector. To finance its daily operations and the activities it undertakes, the government has methods of earning revenue. Revenue earned by the government can be classified into tax revenues and non-tax revenues. Tax revenue is income that is earned by the government through taxation (Chetty, Mobarak, &Singhal, 2014). It is the primary source of income for the government. There are various sources of tax revenues such as public