| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of
the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be
measured reliably, it is probable that the economic benefits associated with the transaction will flow to
the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of services is recognised by reference to the stage of
completion when the stage of completion, costs incurred and costs to complete can be estimated
reliably. The stage of completion is calculated by comparing costs incurred, as a proportion of total
costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the
expenses recognised that are recoverable. |