Page 120 - Microsoft Word - One-Report-Eng 2024 Final.docx

Tycoons Worldwide Group (Thailand) Plc.

4. Accounting policies

4.1 Revenue and expense recognition

Sales of goods

Revenue from sale of goods is recognised at the point in time when control of the asset is
transferred to the customer, generally upon delivery of the goods. Revenue is measured at
the amount of the consideration received or receivable, excluding value added tax, of goods
supplied after deducting returns and discounts.

Interest income

Interest income is calculated using the effective interest method and recognised on an
accrual basis. The effective interest rate is applied to the gross carrying amount of a
financial asset, unless the financial assets subsequently become credit-impaired when it is
applied to the net carrying amount of the financial asset (net of the expected credit loss
allowance).
Finance cost
Interest expense from financial liabilities at amortised cost is calculated using the effective
interest method and recognised on an accrual basis.

4.2 Cash and cash equivalents

Cash and cash equivalents consist of cash in hand and at banks, and all highly liquid
investments with an original maturity of three months or less and not subject to withdrawal
restrictions.

4.3 Inventories

Finished goods and work in process are valued at the lower of cost (under the weighted
average method) and net realisable value. The cost of inventories includes all production costs

and attributable factory overheads.

Raw materials, spare parts, factory supplies and scrap are valued at the lower of weighted
average cost and net realisable value and are charged to production costs whenever
consumed.

4.4 Investments in subsidiaries and investment in associate

Investment in associate is accounted for in the consolidated financial statements using the
equity method.
Investments in subsidiaries and investment in associate are accounted for in the separate
financial statements using the cost method.

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