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Intuit Inc. (INTU)
Analysis of Revenues
Difficulty: Advanced
Revenue Recognition Accounting Policy
Intuit derives revenue from the sale of packaged software products, software subscriptions, hosted services, payroll services, merchant payment processing services, financial supplies and hardware. Intuit enters into contracts with customers that include promises to transfer various products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized when the promised goods or services are transferred to customers, in an amount that reflects the consideration allocated to the respective performance obligation.
Source: 10-K (filing date: 2019-08-30).
Revenues as Reported
Intuit Inc., Income Statement, Revenues
USD $ in millions
| 12 months ended | Jul 31, 2019 | Jul 31, 2018 | Jul 31, 2017 | Jul 31, 2016 | Jul 31, 2015 | Jul 31, 2014 | |||||||
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Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).
| Item | Description | The company |
|---|---|---|
| Net revenue | Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). | Intuit Inc.’s net revenue increased from 2017 to 2018 and from 2018 to 2019. |