Notes to Fina - 星島新聞集團

Notes to Fina
Notes to Financial Statements
31 December 2002
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)
3.
Revenue recognition
Revenue is recognised when it is probable that the
economic benefits will flow to the Group and when the
revenue can be measured reliably, on the following
bases:
(a)
from the sale of goods, when the significant risks
(a)
and rewards of ownership have been transferred
to the buyer, provided that the Group maintains
neither managerial involvement to the degree
usually associated with ownership, nor effective
control over the goods sold;
(b)
rental income, on a time proportion basis over
(b)
the lease terms;
(c)
interest income, on a time proportion basis taking
(c)
into account the principal outstanding and the
effective interest rate applicable;
(d)
dividend income, when the shareholders’ right to
(d)
receive payment is established;
(e)
circulation income, when the newspapers are
(e)
delivered;
(f)
advertising income, when the advertisements are
(f)
published or broadcasted;
(g)
from the rendering of services, when the services
(g)
are rendered; and
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Global China Group Holdings Limited Annual Report 2002