What is unearned consulting revenue?

Answer 1

That is revenue that you have been paid for but not yet done the work. For example, to begin a job, you require $5000 in advance before the job begins. This is unearned revenue.

As you do the job, you are earning the revenue.

Answer 2

Unearned consulting revenue is money you've received for the consulting services which you've yet to perform. If you, the consultant, asked for payment upfront, say $1k, your entry would be:
Dr Cash $1k (B/S item- asset)
Cr Unearned consulting revenue $1k (B/S item- liability)

When you've finally performed the services, the revenue is deemed to be earned. Your entry then would be:
Dr Unearned consulting revenue $1k
Cr Consulting revenue $1k (P/L item - revenue)

Upon making this entry, the unearned consulting revenue a/c would be closed off to zero, as you now don't owe that customer anything anymore.