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That is the standard meaning of that term in business accounting. When you or I work for a salary, we think of income as all the money coming in, but that's bec
by sokoloff 1y ago
That is the standard meaning of that term in business accounting. When you or I work for a salary, we think of income as all the money coming in, but that's because there are no allowable expenses that we get to deduct against that income, so our "revenue as employees" is all "income".
- arethuza 1y agoI think "income" is the standard accounting term in the US - in the UK the equivalent is "profit" (e.g. "P/L" vs "income statements").
- christophilus 1y agoI thought revenue was the standard accounting term in the US. I think of income as what I get to keep / freely reinvest, and revenue as a number that contains all kinds of hidden liabilities such as taxes, cost of sales, etc. That said, I’m (obviously) not an accountant.
- cies 1y agoWhen I look at it as a private person I think of income as the my personal revenue: from there I have lots of costs and tax to pay. What I end up with is disposable income which I can keep/invest.