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Note 4: Sales of Goods and Services

2017 Forecast Actual
Budget
2016
$m
Budget
2017
$m
30 June
2017
$m
30 June
2016
$m
8,328 8,072 Sales of goods 8,259 7,566
8,931 8,615 Rendering of services 8,612 8,798
17,259 16,687 Total sales of goods and services 16,871 16,364

Revenue from the supply of goods and services to third parties is measured at the fair value of consideration received.

Revenue from the supply of goods is recognised when the significant risks and rewards of ownership have been transferred to the buyer.  Revenue from the supply of services is recognised on a straight-line basis over the specified period for the services unless an alternative method better represents the stage of completion of the transaction.

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