353.311 - “Revenue” defined. - Nevada Statutes

353.311  “Revenue” defined.  “Revenue” means the gross increase in ownership equity during a designated period. If the accounts are kept on an accrual basis, the term designates:

      1.  Additions to assets which do not increase any liability or represent the recovery of an expenditure or contributions of fund capital in proprietary funds; and

      2.  The cancellation of liabilities without a corresponding increase in other liabilities or a decrease in assets.

Ê If the accounts are kept on the modified accrual basis, the additions must be measurable and available to finance expenditures of the fiscal period.

      (Added to NRS by 1969, 507; A 1987, 624)