148 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) DATASONIC GROUP BERHAD FINANCIAL STATEMENT 06 4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 4.23 REVENUE FROM CONTRACTS WITH CUSTOMERS (CONT’D) (a) Sale of Goods and Software Solutions (“SS”) Revenue from sale of goods and SS is recognised when the Group has transferred control of the goods to the customer, being when the goods have been delivered to the customer and upon its acceptance. Following delivery, the customer has full discretion over the manner of distribution and price to sell the goods, and bears the risks of obsolescence and loss in relation to the goods. A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due. (b) Rendering of Services Revenue from providing services is recognised over time in the period in which the services are rendered. For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously. 4.24 REVENUE FROM OTHER SOURCES AND OTHER OPERATING INCOME (a) Management Fee Management fee is recognised on an accrual basis. (b) Dividend Income Dividend income from investment is recognised when the right to receive dividend payment is established. (c) Interest Income Interest income is recognised on an accrual basis using the effective interest method. (d) Rental Income Rental income is accounted for on a straight-line method over the lease term.
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