What is a Multi-component Sale?
So far we've looked at revenue from the viewpoint of selling one good or one service at a time.
However, often goods or services can be packaged together for sale in...
Revenue is the name given to an entity's income that arises in the ordinary course of activities and is known by a number of other names including:
Revenue is disclosed in the statement of comprehensive...
If you're studying IAS 18 Revenue, why not test your knowledge with our multiple choice quiz? This is available here. By practicing questions you'll improve your study and recall, ideal for people who learn...
Under IAS 18 revenue is measurable at 'the fair value of the consideration received or receivable'.
In essence, this is the fair market price less any discounts or rebates received.
If a sale is a cash...
IAS 18 provides us with criteria for the recognition of revenue relating to: 1. Sale of goods 2. Rendering of services, and 3. Interest, royalties and dividends Let's take a look.
1. Sale of Goods