Cash received from customer CFA Level 1

CFA Level I
#1

a757d75b-5fc0-4dcb-964f-49e853c64989
a757d75b-5fc0-4dcb-964f-49e853c64989609Ă—712 89.2 KB

So my question is, why do we use Sum of Revenue and Net income instead of just Revenue?

#2

“Revenue and gains” refers to the revenue plus the gains from sale of land.
it does not mean “revenue and net income”

For cash from customers we need just “reveneue” so have to adjust “revenue and gains” for the gain from land.

1 Like
#4

wow thank you so much !!!