GROSS REVENUE Definition

Bookmark and Share

GROSS REVENUE is income (at invoice values) received for goods and services over some given period of time. See also GROSS SALES.

Learn new Accounting Terms

UNBILLED REVENUE is revenue which had been recognized but which had not been billed to the purchaser(s).

ANALYTICAL PROCEDURE is a comparison of financial statement amounts with an auditor's expectation. An example is to compare actual interest expense for the year (a financial statement amount) with an estimate of what that interest expense should be. The estimate can be found by multiplying a reasonable interest rate times the average balance of interest bearing debt outstanding during the year (the auditor's expectation). If actual interest expense differs significantly from the expectation, the auditor explains the difference in audit documentation.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.