Annual Report 2021

FOR THE YEAR ENDED 31 DECEMBER 2021 截至二零二一年十二月三十一日止年度 154 SHOUGANG CENTURY HOLDINGS LIMITED 首佳科技製造有限公司 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 綜合財務報告附註 2 重大會計政策概要 （續） 2.26 收入確認 （續） 商品或服務的控制權在一段時間內 轉移，即本集團於履約過程中： ‧ 提供客戶同時收到且耗用之所 有利益； ‧ 創建或增強由客戶控制之資產 （當本集團履約時）；或 ‧ 不會創建對本集團具有可替代 用途之資產，且本集團有可執 行權就累計至今已完成之履約 部分收取款項。 如果對貨物或服務的控制在一段時 間內轉移，收入在合同期內通過參 考完全履行該履約責任的進度確 認。否則，收入在客戶獲得對貨物 或服務的控制的時間點被確認。 本集團製造及銷售鋼簾線。當產品 的所有權轉移給客戶，產品交付給 客戶，客戶對銷售產品管道和價格 有完全的處理權，並且本集團沒有 未履行的義務而會影響客戶對產品 的接受程度時即可確認收入。當產 品已運至指定地點時，報廢和損失 的風險已轉移給客戶及客戶已按照 銷售合同接受產品，驗收規定已失 效，或本集團有客觀證據表明所有 驗收標準均已滿足。應收賬款在貨 物交付時是無條件的確認，因為在 付款到期之前只需要經過一段時間 即可。 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 2.26 Revenue recognition (continued) Control of the good or service is transferred over time if the Group’s performance: • provides all of the benefits received and consumed simultaneously by the customer; • creates or enhances an asset that the customer controls as the Group performs; or • does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date. If control of the goods or services transfers over time, revenue is recognised over the period of the contract by reference to the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognised at a point in time when the customer obtains control of the goods or service. The Group manufactures and sells steel cords. Revenue is recognised when the control of the products are transferred to the customers at a point in time, when products are delivered to the customers, and there is no unfulfilled obligation that could affect the customers’ acceptance of the products. Delivery occurs when the products have been shipped to the specified location, the risks of obsolescence and loss have been transferred to the customers, and either the customers have accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or the Group has objective evidence that all criteria for acceptance have been satisfied. A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.