97 / 168
Datasonic Group Berhad
(Company No. 809759-X)
95
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2016
(Continued)
4.
SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
4.21 EARNINGS PER ORDINARY SHARE
Basic earnings per ordinary share is calculated by dividing the consolidated profit or loss
attributable to ordinary shareholders of the Company by weighted average number of ordinary
shares outstanding during the reporting period, adjusted for treasury shares.
4.22 RELATED PARTIES
A party is related to an entity (referred to as the “reporting entity”) if:-
(a) A person or a close member of that person’s family is related to a reporting entity if that
person:-
(i) has control or joint control over the reporting entity;
(ii) has significant influence over the reporting entity; or
(iii) is a member of the key management personnel of the reporting entity or of a parent
of the reporting entity.
Closemembers of the family of a person are those family members whomay be expected
to influence, or be influenced by, that person in their dealings with the reporting entity.
(b) An entity is related to a reporting entity if any of the following conditions applies:-
(i) The entity and the reporting entity are members of the same group (which means
that each parent, subsidiary and fellow subsidiary is related to the others).
(ii) One entity is an associate or joint venture of the other entity (or an associate or joint
venture of a member of a group of which the other entity is a member).
(iii) Both entities are joint ventures of the same third party.
(iv) One entity is a joint venture of a third entity and the other entity is an associate of
the third entity.
(v) The entity is a post-employment benefit plan for the benefit of employees of either
the reporting entity or an entity related to the reporting entity. If the reporting entity
is itself such a plan, the sponsoring employers are also related to the reporting entity.
(vi) The entity is controlled or jointly controlled by a person identified in (a) above.
(vii) A person identified in (a)(i) above has significant influence over the entity or is a
member of the key management personnel of the entity (or of a parent of the entity).
(viii) The entity, or any member of a group of which it is a part, provides key management
personnel services to the reporting entity or to the parent of the reporting entity.
Related parties also include key management personnel defined as directors having authority
and responsibility for planning, directing and controlling the activities of the reporting entity
either directly or indirectly.
4.23 REVENUE AND OTHER INCOME
(a) Sale of Goods
Revenue is measured at fair value of the consideration received or receivable and is
recognised upon delivery of goods and customers’ acceptance and where applicable,
net of goods and service tax, returns cash and trade discounts.