Question

Aren’t assets and revenue the same? If a business works for someone and gets paid, aren’t Cash and Revenue exactly the same thing?

Why are the ledger accounts in a specific order? Why aren’t they listed in alphabetical order?

Answer 1

No, Assets and revenue are'nt same.
1) Assets and revenue are very different from each other as they appear on different parts of financial statements. Assets appear in Balance sheet and they are owned by the company on its name whereas revenue appears in Income Statement. Assets appear in the balance sheet on the basis of liquidity that is why ledger account appear in specific order and not listed in alphabetic order.
2) Revenue appears as a top line item in the income statement and it is the amount which company earns through selling its goods and services to customers.
3) Asset is recorded at a point of time whereas revenue is recorded over the course of period.
Also, Cash and Revenue aren't same and very different
1) majorly difference is that cash is accounted on the basis of cash basis of accounting where revenue is recognized when cash is received and expenses are recognozed when cash is paid. And revenue is accounted on the basis of accrual accounting where revenue and expenses are recorded when they are earned.
Assets appear in the balance sheet on the basis of liquidity that is why ledger account appear in specific order and not listed in alphabetic order. Ledger Accounts are classified in the following order:
Assets- Balance Sheet accounts
Liabilities- Balance Sheet Accounts
Stockholders Equity- Balance Sheet Accounts
Operating revenues- Inc Statement
Operating Expenses- Inc Statement
Non operating revenue and gains- Inc Statement
Non operating expenses and losses- Inc Statement