IFRS 8 Revenue vs. Revenues

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pub_acco
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IFRS 8 Revenue vs. Revenues

Post by pub_acco »

It might be a silly question about English language rather than accounting. In the IFRS standards (notably in IFRS 15) generally the word revenue is used as an uncountable noun in the form of Revenue, but in IFRS 8 I see many uses of the plural form Revenues. What does this use of plural imply? I believed Revenues implied various types and sources of revenue, but my interpretation didn't really explain the contexts where Revenues were used in IFRS 8.
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Marek Muc
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Re: IFRS 8 Revenue vs. Revenues

Post by Marek Muc »

I used to think about it many years ago because it is quite common to see both 'revenue' and 'revenues' in PFS. I personally use 'revenue' because this form was used in IAS 18 and now in IFRS 15, but it would be interesting to hear from native speakers as to whether there's any difference in meaning.

I don't think the plural form implies various types and sources because IFRS 15 refers to revenue in this context as well (in paragraph 114 for example)
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Re: IFRS 8 Revenue vs. Revenues

Post by JRSB »

Interchangeable from a language perspective

But you would never say "Debit bank credit revenues" …

Revenues is probably more common in discussions rather than direct accounting, eg have you seen any financial statements say 'revenues' in P&L?

Yes revenues probably hints at the possibility of various revenue streams but revenue doesn't, in my view, suggest a single revenue source.

If that throws any light...
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Marek Muc
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Re: IFRS 8 Revenue vs. Revenues

Post by Marek Muc »

Thanks JRSB,

I have seen 'revenues' on the face of P/L but these were English versions of FS of non-English issuers, so most likely translated by non-native speakers
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Re: IFRS 8 Revenue vs. Revenues

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Also non-financial people are more likely to use revenues, eg journalists, easily found an example https://www.businessinnovationmag.co.uk ... 7-million/
pub_acco
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Re: IFRS 8 Revenue vs. Revenues

Post by pub_acco »

Thank you, JRSB. Perhaps, there is not a strong reason for Revenues in IFRS 8. I’ll stick to Revenue when translation our financial statements.

I am actually surprised Revenues are casually used in discussions because we just use Sales in most cases :P
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Re: IFRS 8 Revenue vs. Revenues

Post by JRSB »

Actually yes in the UK it's common that someone will say Turnover or Sales.
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