4. MATERIAL ACCOUNTING POLICIES (continued) 4.11 Revenue (continued) (iv) Revenue from real estate management services Property management and asset management services are provided as a series of distinct good or services that are substantially the same and transferred over time, either separately or in combination as an integrated offering, and are treated as a single PO. Accordingly, the revenue from property management and asset management services is recognised as the service is performed over time. Revenue from acquisition, divestment and leasing services is recognised upon completion of the service, at a point in time. (v) Revenue from healthcare services Healthcare services revenue generally relates to contracts with patients in which performance obligations are to provide healthcare services. The performance obligations for healthcare services are generally satisfied at a point in time and revenue is recorded when the healthcare services are performed. There are no variable considerations, and no obligation for returns or refunds or warranties for healthcare-related services. (vi) Dividend income Dividend income is recognised in profit or loss on the date that the Group’s right to receive payment is established. 4.12 Finance income and finance costs The Group’s finance income and finance costs include: • interest income; and • interest expense. Interest income or expense is recognised using the effective interest method. The ‘effective interest rate’ is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument to: • the gross carrying amount of the financial asset; or • the amortised cost of the financial liability. In calculating interest income and expense, the effective interest rate is applied to the gross carrying amount of the asset (when the asset is not credit-impaired) or to the amortised cost of the liability. However, for financial assets that have become credit-impaired subsequent to initial recognition, interest income is calculated by applying the effective interest rate to the amortised cost of the financial asset. If the asset is no longer credit-impaired, then the calculation of interest income reverts to the gross basis. Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognised in profit or loss using the effective interest method. 4.13 Tax Tax expense comprises current and deferred tax. Current tax and deferred tax are recognised in profit or loss except to the extent that it relates to a business combination, or items recognised directly in equity or in OCI. The Group has determined that interest and penalties related to income taxes, including uncertain tax treatments, do not meet the definition of income taxes, and therefore accounted for them under SFRS(I) 1-37 Provisions, Contingent Liabilities and Contingent Assets. Notes to the Financial Statements Year ended 31 December 2024 184 PERENNIAL HOLDINGS PRIVATE LIMITED
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