Page 131 - Mono Technology Public Company Limited : Annual Report 2013

Effective date

Financial Reporting Standard Interpretations:

TFRIC 1 Changes in Existing Decommissioning, 1 January 2014
Restoration and Similar Liabilities

TFRIC 4 Determining whether an Arrangement 1 January 2014
contains a Lease

TFRIC 5 Rights to Interests arising from 1 January 2014
Decommissioning, Restoration and
Environmental Rehabilitation Funds

TFRIC 7 Applying the Restatement Approach 1 January 2014
under TAS 29 Financial Reporting in
Hyperinflationary Economies

TFRIC 10 Interim Financial Reporting and Impairment 1 January 2014

TFRIC 12 Service Concession Arrangements 1 January 2014

TFRIC 13 Customer Loyalty Programmes 1 January 2014

TFRIC 17 Distributions of Non-cash Assets to Owners 1 January 2014

TFRIC 18 Transfers of Assets from Customers 1 January 2014

The management of the Company and its subsidiaries believes that these accounting standards,
financial reporting standard, accounting standard interpretations and financial reporting standards
interpretations will not have any significant impact on the financial statements for the year when
they are initially applied.

4. Significant accounting policies
4.1 Revenue recognition

Sales of goods
Sales of goods are recognised when the significant risks and rewards of ownership of the goods
have passed to the buyer. Sales are the invoiced value, excluding value added tax, of goods
supplied after deducting discounts and allowances.

Rendering of services
Revenues from mobile value added service, advertising and other services relating to Internet
business are recognised when services have been rendered taking into account the stage

of completion.
Interest income
Interest income is recognised on an accrual basis based on the effective interest rate.

Dividends
Dividends are recognised when the right to receive the dividends is established.

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