Revenue from sale of goods is measured at fair value of the consideration received or receivable and is recognised in the statement of comprehensive income of the Company when significant risks and rewards of the ownership of the goods have been transferred to the buyers.
2 thoughts on “Sample Disclosure – Revenue Recognition Policy For Sale Of Goods (6 May 2011)”
what would we state revenue recognition policy for sale of goods exactly when we are disclosing it in XBRL format? wil it be Accrual basis (to be noted as when due) or cash ( on receipt of payment) ?
If anyone can give me a standard filed format of an XBRL of a co. who is qualifying all the data to be filled in before xml conversion? or any literature,link….