UNBILLED REVENUE Definition

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

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FAVORABLE VARIANCE is a variance created by using or spending less of a given resource than specified by the standard, often categorized as rate (spending less per hour for labor for a given amount of production), efficiency (using less hours for a given amount of production), usage (using less materials for a given amount of production) or price (paying less to a vendor for a given purchased item).

DISPATCH, in shipping, is the amount paid by a vessels operator to a charterer if loading or unloading is completed in less time than stipulated in the charter party.

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