Approaches to Revenue Definition and Recognition and Their Implications for Profit and Loss Measurement

The paper concerns models of profit and loss measurement in accordance with various approaches to revenue definition and recognition. First part defines different models as a result of a theoretical experiment, regardless postulates and axioms applied in any economic disciplines. It aims to show – without any prepossessions – diversity of concepts that can be used for profit measurement. Second part deals with selected application problems of general models of revenues.