Deferred revenue

yes advance that is received against future sale of goods is our current liability.it shud be deferred and shall be recognized as Income to revenue month on month

Yes deferred revenue is a liability
At the time of receiving a advance, we record the entry
Bank A/c Dr. xxx
To Def.Revenue xxx

When the product or services is delivered over time, it is recognised as revenue in income statement
Def.Revenue Dr. xxx
To Sale xxx

Thanks a lot

Deferred Revenue (current liability) is the advance recd for the services to be rendered in future

Deferred/Prepaid Expense (current asset) is the advance payment for the expenses to be incurred in future

But then if we read deferred revenue expenditure it's the expense which has been covered in an accounting period. Is it different than the first two concepts?

yes you are right

thank you

like Advertisement Exp.is a deferred revenue expenditure it will be amortised over the period

ok.all these concepts comes under M.com syllabus? i am asking as i havn't persuade post graduations.