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Events 2005 - ChartNexus

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Notes to the Financial Statements 31 December <strong>2005</strong><br />

5. SIGNIFICANT ACCOUNTING POLICIES (Continued)<br />

5.15 Revenue recognition<br />

Revenue of the Group represents the invoiced value arising from the publication, printing and distribution of newspapers<br />

and magazines (net of returns and service tax), broadcasting of commercials on radio (net of service tax) and provision of<br />

education service after eliminating sales within the Group.<br />

Interest income earned by the Group and the Company are recognised as it accrues unless collectibility is in doubt.<br />

Rental income is recognised on an accrual basis unless collectibility is in doubt.<br />

Dividend income is recognised when the shareholder’s right to receive payment is established.<br />

5.16 Cash and cash equivalents<br />

Cash and cash equivalents include cash and bank balances, bank overdrafts, deposits and other short term, highly liquid<br />

investments that are readily convertible to cash and are subject to insignificant risk of changes in value.<br />

STAR PUBLICATIONS<br />

(MALAYSIA) BERHAD<br />

125

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