Page 227 - BTSGroup ONE REPORT 2021/22_EN
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BTS Group Holdings Public Company Limited 6.4 Notes to Consolidated Financial Statements 225
Annual Report 2021/22
The obligation to transfer goods or services to a customer for which Other service revenue is recognised when services have been rendered
the Group has received consideration (or an amount of consideration taking into account the stage of completion.
is due) from the customer is presented under the caption of “Unearned
income” in the statement of financial position. Contract liabilities are Revenues from contracting works
recognised as revenue when the Group performs under the contract.
Revenues from construction, installation and train procurement services
Commissions paid or discounts given to counterparties who are Revenues from construction, installation and train procurement services
considered to be customers of the Group are recorded net of revenues are recognised on a percentage of completion basis. The percentage of
from advertising services and volume rebates given to counterparties who completion is measured based on comparison of actual costs incurred
are considered to be agents of the Group (which are not the customers up to the end of the period and total anticipated costs to be incurred
of the Group) are recorded as selling expenses. to completion.
Service income Revenue from system installation services is recognised upon completion
of services which control of the assets created has not yet been
Revenue from service provision of customer information online is transferred to the customers.
recognised when control of the asset or service are transferred to
the customer. Revenue is measured at the amount received or expected The recognised revenue which is not yet due per the contracts has been
receivable of the asset or service transferred, after deducting return presented under the caption of “Accrued income” in the statement
and discounts.
of financial position. The amounts recognised are reclassified to trade
receivables when the right to consideration is unconditional such as
Insurance brokerage income is recognised on the date the insurance upon completion of services and acceptance by the customer.
policy comes into effect and when services have been rendered, net of
allowances for policy cancellation.
The obligation to transfer goods or services to a customer for which has
received consideration (or an amount of consideration is due) from the
Revenues from golf course services consist of membership fees and customer is presented under the caption of “Advance/Unearned revenue”
upfront fees. The Group has charged the membership fees and upfront in the statement of financial position. The amounts are recognised as
fees from customers for promised membership services to customers revenue when the Group performs under the contract.
which are typically performance obligations satisfied over time. They are
recognised on a straight-line basis throughout the performance period Provision for anticipated losses on projects is made in the accounts in
of membership services.
full when the possibility of loss is ascertained.
Revenues from sales of food and beverage sales represent the invoiced
value (excluding value added tax) of goods delivered and services
rendered after deducting discounts and service charges.
