Revenue in cost statements must be measured on net sales realization, with separate treatment for by-products, subsidies, and related-party sales. Revenue in cost statements is measured, assigned, presented and disclosed on the basis of uniform cost accounting principles. Revenue from operations is generally taken at net sales realization, with separate treatment for joint products, by-products, defectives, rejects, scrap, spoilage and waste. Other income is excluded from revenue from operations, while product-related subsidies, grants and incentives form part of revenue from operations and other current-operation support payments reduce related cost. Revenue is assigned directly to each product or service where economically feasible, and cost statements must disclose related-party sales, by-product revenue, subsidies and any material change in revenue accounting methods.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Revenue in cost statements must be measured on net sales realization, with separate treatment for by-products, subsidies, and related-party sales.
Revenue in cost statements is measured, assigned, presented and disclosed on the basis of uniform cost accounting principles. Revenue from operations is generally taken at net sales realization, with separate treatment for joint products, by-products, defectives, rejects, scrap, spoilage and waste. Other income is excluded from revenue from operations, while product-related subsidies, grants and incentives form part of revenue from operations and other current-operation support payments reduce related cost. Revenue is assigned directly to each product or service where economically feasible, and cost statements must disclose related-party sales, by-product revenue, subsidies and any material change in revenue accounting methods.
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