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In accounting, revenue is the income that a business has from its normal business activities, usually from the sale of goods and services to customers. Revenue is also referred to as sales or turnover. Some companies receive revenue from interest, royalties, or other fees.
deferral. In accounting this means to defer or to delay recognizing certain revenues or expenses on the income statement until a later, more appropriate time.Revenues are deferred to a balance sheet liability account until they are earned in a later period.When the revenues are earned they will be moved from the balance sheet account to revenues on the income statement.evenues are deferred to a balance sheet liability account until they are earned in a later period. When the revenues are earned they will be moved from the balance sheet account to revenues on the income statement.