However, it includes both income and gains. Income and gains result in an increase in economic benefits over the accounting period. Revenues arise from the ordinary course of business of an entity or business. Earnings represent other items, they cannot arise from the ordinary activities of an entity or business. Profit or loss is recognized in the income statement and other comprehensive income (income statement) when its amount can be reliably assessed, together with an increase in future economic benefit linked to an increase in an asset or to a decrease in a liability.