Skip main navigation

Assessing Income: Revenues and Expenses

Assessing Income: Revenues and Expenses

A fundamental role of accounting is identifying revenues and expenses. These differ from cash inflows and cash outflow and this is a key threshold concept in accounting. Think about the following problem – as a trigger: a company buys properties downtown an pays the seller in cash. Is there any expense involved? A company pays for consultancy services to ensure their budgeting process is sound: is there any expense involved? This video will introduce you to some of the most important concepts in accounting. Please, make sure you listen to it carefully and engage in the comment section with your peers. Reach us out in case anything is unclear. Happy Watching!

You can find attached below the slides in pdf version we are presenting during the video.

This article is from the free online

Introduction to Financial Accounting

Created by
FutureLearn - Learning For Life

Reach your personal and professional goals

Unlock access to hundreds of expert online courses and degrees from top universities and educators to gain accredited qualifications and professional CV-building certificates.

Join over 18 million learners to launch, switch or build upon your career, all at your own pace, across a wide range of topic areas.

Start Learning now