Revenue Recognition Accounting Policy
Revenues are recognized when title is transferred to the customer or services are rendered. Revenue from exported products is recognized when such products are loaded on board the ship. Revenues from products sold in the domestic market are recognized when delivery is made to the customer. Revenues from logistic services are recognized when the service order is fulfilled. Expenses and costs are recognized on the accrual basis.
Source: Vale S.A., Annual Report
Revenues as Reported
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Vale S.A., Income Statement, Revenues
Source: Vale S.A. Annual Reports
| Item |
Description |
The company |
| Gross revenues |
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. |
Vale S.A.'s gross revenues increased from 2009 to 2010 and from 2010 to 2011.
|
