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- Deferred_income abstract "Deferred income (also known as deferred revenue, unearned revenue, or unearned income) is, in accrual accounting, money received for goods or services which have not yet been delivered. According to the revenue recognition principle, it is recorded as a liability until delivery is made, at which time it is converted into revenue.For example, a company receives an annual software license fee paid out by a customer upfront on January 1. However, the company's fiscal year ends on May 31. So, the company using accrual accounting adds only five months' worth (5/12) of the fee to its revenues in profit and loss for the fiscal year the fee was received. The rest is added to deferred income (liability) on the balance sheet for that year.A typical example is an annual maintenance contract where the entire contract is invoiced up front. “I received $12,000 for an annual maintenance contract, but need to recognize it as deferred income, and then recognize $1,000 each month as the service is rendered.”Deferred income shares characteristics with accrued expense with the difference that a liability to be covered later are goods or services received from a counterpart, while cash is to be paid out in a latter period, when such expense is incurred, the related expense item is recognized, and the same amount is deducted from accrued expenses.The sentence above seems to clarify the difference between deferred income and accrued expense, but it is quite confusing to explain it in this way. To clarify it in a clearer way, we may say:Deferred income shares characteristics with accrued expense with the difference that deferred income (the money that a company received in advance) indicates the goods and services the company owed to its customers, while accrued expense indicates the money a company owed to others.".
- Deferred_income wikiPageID "1190341".
- Deferred_income wikiPageLength "2555".
- Deferred_income wikiPageOutDegree "16".
- Deferred_income wikiPageRevisionID "618664820".
- Deferred_income wikiPageWikiLink Accounting_methods.
- Deferred_income wikiPageWikiLink Accrual.
- Deferred_income wikiPageWikiLink Accrued_expense.
- Deferred_income wikiPageWikiLink Balance_sheet.
- Deferred_income wikiPageWikiLink Basis_of_accounting.
- Deferred_income wikiPageWikiLink Category:Generally_Accepted_Accounting_Principles.
- Deferred_income wikiPageWikiLink Deferral.
- Deferred_income wikiPageWikiLink Fiscal_year.
- Deferred_income wikiPageWikiLink Income_statement.
- Deferred_income wikiPageWikiLink Liability_(accounting).
- Deferred_income wikiPageWikiLink Liability_(financial_accounting).
- Deferred_income wikiPageWikiLink Passive_income.
- Deferred_income wikiPageWikiLink Profit_and_loss.
- Deferred_income wikiPageWikiLink Property_income.
- Deferred_income wikiPageWikiLink Revenue.
- Deferred_income wikiPageWikiLink Revenue_recognition.
- Deferred_income wikiPageWikiLink Revenues.
- Deferred_income wikiPageWikiLink Software_license.
- Deferred_income wikiPageWikiLink Unearned_income.
- Deferred_income wikiPageWikiLinkText "Deferred income".
- Deferred_income wikiPageWikiLinkText "Unearned Revenue".
- Deferred_income wikiPageWikiLinkText "deferred income".
- Deferred_income wikiPageWikiLinkText "deferred".
- Deferred_income wikiPageWikiLinkText "unearned revenue".
- Deferred_income hasPhotoCollection Deferred_income.
- Deferred_income wikiPageUsesTemplate Template:Econ-stub.
- Deferred_income wikiPageUsesTemplate Template:Reflist.
- Deferred_income subject Category:Generally_Accepted_Accounting_Principles.
- Deferred_income comment "Deferred income (also known as deferred revenue, unearned revenue, or unearned income) is, in accrual accounting, money received for goods or services which have not yet been delivered. According to the revenue recognition principle, it is recorded as a liability until delivery is made, at which time it is converted into revenue.For example, a company receives an annual software license fee paid out by a customer upfront on January 1. However, the company's fiscal year ends on May 31.".
- Deferred_income label "Deferred income".
- Deferred_income sameAs إيراد_مقدم.
- Deferred_income sameAs Produits_constatxc3xa9s_davance.
- Deferred_income sameAs m.04fxb0.
- Deferred_income sameAs Q5251509.
- Deferred_income sameAs Q5251509.
- Deferred_income wasDerivedFrom Deferred_income?oldid=618664820.
- Deferred_income isPrimaryTopicOf Deferred_income.