Revenue may consist of items such as sales of goods, service income, interest, royalties and rent. The financial statements show the net amount after returns, discounts and rebates.
Annual net sales is one of the criteria that determine whether a company is subject to independent audit.
Related toolRun the calculation nowRelated terms
Revenue from contracts with customers (TFRS 15)The standard requiring revenue to be recognised to depict the transfer of goods or services to customers, at the amount the entity expects to be entitled to.Statement of profit or lossThe statement showing an entity's revenue and expenses for a period and the resulting profit or loss.Accounting policiesThe specific principles, bases, conventions, rules and practices an entity applies in preparing its financial statements.Amortised costThe amount at which a financial asset or liability is measured at initial recognition, minus principal repayments, plus cumulative amortisation calculated using the effective interest method.AssociateAn entity over which the investor has significant influence but not control or joint control.BOBİ FRS (Turkish GAAP for SMEs)The financial reporting standard issued by the POA for large and medium-sized entities that are subject to independent audit but do not apply TFRS.
Last updated: October 22, 2026 · This definition is for general information only.