Difference between revisions of "Income"
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== Definition == | == Definition == | ||
| − | '''Income''' | + | '''Income''' means the increases in assets, or decreases in liabilities that result in increases in equity, other than those relating to contributions from holders of equity claims. |
| + | |||
| + | Different transactions and other events generate income and expenses with different characteristics. [[Financial Statements]] provide information separately about income and expenses to help understand a [[Reporting Entity]]’s financial performance | ||
== See Also == | == See Also == | ||
* [[Revenue]] | * [[Revenue]] | ||
| + | * [[Expenses]] | ||
Latest revision as of 19:49, 6 September 2021
Definition
Income means the increases in assets, or decreases in liabilities that result in increases in equity, other than those relating to contributions from holders of equity claims.
Different transactions and other events generate income and expenses with different characteristics. Financial Statements provide information separately about income and expenses to help understand a Reporting Entity’s financial performance
See Also
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
