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Assessing income: revenues and expenses

This video from the University of Padova will introduce you to some of the most important concepts in accounting.

A fundamental role of accounting is identifying revenues and expenses.

These differ from cash inflows and cash outflows.

Think about the following problem

A company buys properties downtown and pays the seller in cash.

  • Is there any expense involved?

A company pays for consultancy services to ensure its budgeting process is sound.

  • Is there any expense involved?

Download the PDF slides, presented in the video, below if you wish.

This article is from the free online

Introduction to Financial Accounting

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