Revenue Recognition Accounting Policy
Sales comprise revenue from the sale of goods, royalties receivable and rents receivable. Revenue from the sale of goods includes excise and other duties which the group pays as principal but excludes amounts collected on behalf of third parties, such as value added tax. Sales are recognised depending upon individual customer terms at the time of despatch, delivery or some other specified point when the risk of loss transfers. Provision is made for returns where appropriate. Sales are stated net of price discounts, allowances for customer loyalty and certain promotional activities and similar items.
Source: Diageo PLC, Annual Report
Revenues as Reported
You have visited 10 password protected pages for free. Others contain data covered by 
.
Sign Up Now to get full access to whole website and cut out all advertisements.
Diageo PLC, Income Statement, Revenues
USD $ in millions, translated from GBP £
Source: Diageo PLC Annual Reports
| Item |
Description |
The company |
| Sales |
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. |
Diageo PLC's sales increased from 2009 to 2010 and from 2010 to 2011.
|
