Recognized Revenue
/ˈrɛkəɡnaɪzd ˈrɛvəˌnjuː/
Definitions
- (n.) Revenue that has been formally recorded in the financial statements after earning criteria are met, per accounting and legal standards.
The company reported recognized revenue of $1 million for the quarter, reflecting sales completed under contract terms.
Forms
- recognized revenue
Related terms
See also
Commentary
Recognized revenue is a critical concept in legal and accounting contexts to ensure compliance with revenue recognition principles under contracts and financial reporting laws.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.