Hehe.. just a stupid question, do Trade Discounts come under AASB118?
eg In a business, you purchase $1000 for goods, but pay only $950. You credit $950 from Cash in bank, and $1000 for Inventory, and $50 to discount revenue.
But this doesn't appear to fit under the definition in AASB118 for revenue (sale of goods)!
But it still is revenue.. hmmmmmmmmmmmmmmmmmmmmmmm