Difference
between income and Revenue
There is no difference
between gross income and revenue, both term are used interchangeably, however,
it is important to remember that net income term is used to describe the profit.
The relationship can be understood from the following table
|
Gross
income
|
= (Equal)
|
Revenue
|
|
Net
Income
|
= (Equal)
|
Profit
|
Where term income is used?
There is some gross inflow
where the term income is widely used, interest income, dividend income, royalty
income.
Where
term revenue is used?
There are some gross cash inflows
where term revenue is widely used, revenue from trading activities.
