20. REVENUE (continued) Group Company 2024 2023 2024 2023 RM9000 RM9000 RM9000 RM9000 Revenue from contracts with customers (continued) 90,054 96,142 - - Other revenue Dividend income - - 1,764 1,039 Total revenue 90,054 96,142 1,764 1,039 Timing and recognition for revenue from contracts with customers At a point in time 89,458 94,771 - - Over time 596 1,371 - - 90,054 96,142 - - (a) Sale of printed books, distribution of applied learning products and trading of paper are recognised at a point in time when the goods are delivered and accepted by the customers at their premises. (b) Sale of online/digital educational material is recognised over time as the customer simultaneously receives and consumes the benefits provided as the Group performs. (c) Some contracts for the sales of printed books, distribution of applied learning products and trading of paper and sales of online/digital educational material provide customers with a right of return the goods within a specified period. Under MFRS 15, the consideration received from the customer is variable because the contract allows the customer to return the products. To account for the transfer of products with a right of return, the Group recognises all of the following: (i) revenue for the transferred products in the amount of consideration to which the entity expects to be entitled (therefore, revenue would not be recognised for the products expected to be returned); (ii) a refund liability; and (iii) an asset (and corresponding adjustment to cost of sales) for its right to recover products from customers on settling the refund liability. (d) Dividend income is recognised when the shareholder9s right to receive payment is established. (e) There is no significant financing component in the revenue arising as the sales are made on the normal credit terms not exceeding twelve (12) months. Responsible Corpor-|; bঞ;mv_br Integrity & Honesty Accountable P-u|m;uv_br Excellence & Inno-ঞom Financial Statements (continued) 131
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