Revenue shall only be recognised when all the criteria
regarding the following have been met:
Transfer of significant ►► risks and rewards of
ownership;
►► Transfer of the continuing managerial involvement
and control of goods;
►► The amount of revenue can be measured reliably;
►► It is probable that the economic benefits will flow to
the entity; and
►► The related costs of the transaction can be
measured reliably.
Additional guidance regarding accounting for the sale
of goods is provided with detailed examples in the
IAS 18