Revenue Recognition

The entity recognizes revenue from contracts with customers when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, excluding amounts collected on behalf of third parties. The entity derives its revenues from business processing services rendered which the management assessed consist of a single performance obligation that is recognized at a point in time. 

 

Service revenue 

Service revenue is recognized on a cost-plus basis on costs and expenses directly related to the services performed. 



Sale of goods 

Sale of goods is recognized when the entity has transferred to the buyer the significant risks and rewards of the ownership of goods and the entity retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold. 

 

 

Interest income 

Interest income from bank deposits is recognized on a time proportion basis that reflects the effective yield on the asset and is presented net of final tax. 

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