Simply stated, accounting is the measurement of economic activity. Its primary principle is to report information to the user so that (s)he can make informed decisions. The primary reporting format is in the form of dollars. There are two important reports used by pretty much 99% of all business operations to determine the status of the business operation. These are the income statement and the balance sheet.
Revenues in Excess
Revenues in excess is a traditional non profit term referring to the income statement. This financial statement is commonly used in certain types of industries, mostly non-profits, charitable and religious organizations. The articles below define these organizations, the respective financial reports and how they are instrumental in maintaining financial solvency.