Senior Revenue Accountant Interview Questions and Answers

Deferred revenue is revenue received in advance but not yet earned, while unbilled revenue is revenue earned but not yet invoiced.

• Deferred revenue is received in advance for goods or services that have not yet been provided.

• Unbilled revenue is revenue that has been earned but not yet invoiced to the customer.

• Deferred revenue is a liability on the balance sheet until the goods or services are provided.

• Unbilled revenue is an asset on the balance sheet until an invoice is issued...read more

Deferred revenue is revenue that has been received but not yet earned, while unbilled revenue is revenue that has been earned but not yet invoiced.

• Deferred revenue is recognized on the balance sheet as a liability until it is earned.

• Unbilled revenue is recognized on the income statement as revenue even though it has not been invoiced yet.

• Examples: A company receives payment for a subscription service that will be provided over the next 12 months - this is deferred revenue. A ...read more

Revenue is the income generated from the sale of goods or services by a company.

• Revenue is the top line of a company's income statement, representing the total amount of money earned before expenses are deducted.

• It can come from various sources such as product sales, service fees, licensing agreements, etc.

• Revenue is crucial for a company's financial health and growth.

• Examples of revenue include sales revenue, subscription fees, advertising revenue, etc.