Music Store Revenue (Financial Management for Music Retail)

Master the art of revenue reporting. Music retail is unique because it can generate other material revenue sources from rental, repair and lesson incomes, for example. These additional revenue streams need to be broken out separately from sales on your income statement to avoid misleading and confusing information. Know what’s really happening when you format your income statement to accurately report your true sales margins and whether you’re making money from all of your revenue streams.