Unearned Revenue

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Unearned Revenue

Revenue for a company from a project that has not been completed or a product that has not been delivered. A common example of unearned revenue is prepayment for a lease or asset. Unearned revenue is a liability for the company until the project has been completed or the product delivered; at that point, it becomes earned revenue.
References in periodicals archive ?
The company will record the entries shown in Exhibit 6 to reverse the entries shown in Exhibit 1, which initially record unearned revenue.
XYZ can immediately recognize $162 of previously unearned revenue from the gift card.
12 Cash $200 Unearned revenue $200 Exhibit 2 Customer Jane Doe Redeems Gift Card March 23 Unearned revenue $200 Sales revenue $200 Exhibit 4 Company XYZ Sells Gift Cards Feb.
Unamortized deferred acquisition costs, unearned revenue liabilities, and deferred sales inducement assets from the replaced contract in an internal replacement transaction that results in a substantially changed contract should not be deferred in connection with the replacement contract.
Appendix D, "Illustration of Deferred Acquisition Costs and Unearned Revenue Liability Amortization for a FASB Statement No.
Unamortized deferred acquisition costs, (6a) unearned revenue liabilities, and deferred sales inducement assets from the replaced contract in an internal replacement transaction that results in a substantially changed contract should not be deferred in connection with the replacement contract.