Under the accrual basis of accounting, the Interest Revenues account reports the interest earned by a company during the time period indicated in the heading of the income statement. Interest Revenues account includes interest earned whether or not the interest was received or billed. Interest Revenues are nonoperating revenues or income for companies not in the business of lending money. For companies in the business of lending money, Interest Revenues are reported in the operating section of the multiple-step income statement.
Featured Review
"I've been a member of AccountingCoach for a couple of years now, and since signing up, it has helped me refresh my accounting knowledge after taking a break shortly after college to backpack through Central America. I am currently a senior accountant, and became a PRO user because knowledge is key. I find it extremely important to always stay up to date, as well as to support tools that encourage students from all over to continue learning. I truly enjoy how accountable AccountingCoach keeps with the multiple questions and quizzes, and how it always keeps their members up to date. AccountingCoach has provided numerous benefits, including making learning interesting, allowing me to continue or pick up learning on my own time, and the endless education/site improvements that it brings to me as a student." - Denisse
Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials
Read all 2,645 reviewsWe now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping: