Revenue versus Proceeds

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Jeff Zhang
Accountant, China

Revenue versus Proceeds

What's the difference between revenue and proceeds in accounting? In which conditions we use proceeds?
Thanks for your advice...

  gulandam
 

Revenue and Proceeds

Revenue is the income received by an organization from all of its activities. If the organization is a country or state, then revenue is from taxes.
Proceeds is money obtained from specific events or activities, such as selling. Proceeds may be 'gross' -- before your expenses -- or 'net' -- after paying your expenses.

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