The two categories of income, as specified in the Conceptual Framework, are:

The Conceptual Framework specifies two categories of income:

1. Revenue: This is the gross inflow of economic benefits (cash, receivables, other assets) arising from the ordinary operating activities of an entity such as sales of goods, sales of services, and interest, royalties, and dividends.

2. Gains: These represent other items that meet the definition of income and may, or may not, arise in the course of the ordinary activities of an entity. Gains represent increases in economic benefits and as such are no different in nature from revenue. Hence, they are not regarded as constituting an element separate from revenue.