Difference between unearned revenue and deferred revenue

[charly_blue]

Can Anyone tell me the difference between unearned revenue and deferred revenue (if there is any)
And if so, Plz give a clear example of both.

 

[cpk123]

both are the same

 

[vinniepaz730]

like when you get money for some service you are going to service in the future.
say i gave you 20$ to mow my lawn next week, that’s your unearned/deferred revenue until you can establish recognition of service/ do it.
don’t confuse it with accrued revenue, which is service you have done but haven’t received money for yet.

 

[thommo77]

accrued revenue = booked revenue on income statement but have not earned it.
deferred revenue = earned revenue but have not booked it.

 

[hw0799]

what is unearned revenue?
thommo77 Wrote:
——————————————————-
> accrued revenue = booked revenue on income
> statement but have not earned it.
>
> deferred revenue = earned revenue but have not
> booked it.

 

[justinkc]

The classic example is magazine subscriptions. You get paid up front, but you owe 11 more magazines over the next year.
I believe cash is increased and unearned revenue(liability) is increased.
Hope that helps

 

[Paraguay]

thommo77 Wrote:
——————————————————-
> accrued revenue = booked revenue on income
> statement but have not earned it.
>
> deferred revenue = earned revenue but have not
> booked it.
Don’t know why no one is not correcting this.
Accrued revenue, earned revenue increased accounts receivable, billed revenue. Does not show up all that often.
Deferred/Unearned revenue, revenue that you have been paid on but have not fully delivered the service. In good times companies will place a lot of revenue in unearned category to harvest it in the bad times.