NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2000 Sale of Goods and Disposal of Assets Rendering of Services Contribution of Assets Liabilities Forgiven (r) Revenue Recognition (q) Recoverable Amount of Non-Current Assets (p) Receivables Trade receivables and other receivables are recorded at amounts due less any provision for doubtful debts. Bills of exchange are recorded at amortised cost, with revenue recognised on an effective yield basis. Non-current assets are written down to recoverable amount where the carrying value of any non-current asset exceeds recoverable amount. In determining the recoverable amount of non- current assets, the expected net cash flows have not been discounted to their discount value. Revenue from the sale of goods and disposal of other assets is recognised when the economic entity has passed control of the goods or other assets to the buyer. Revenue from a contract to provide services is recognised by reference to the stage of completion of the contract. Revenue arising from the contribution of assets is recognised when the economic entity gains control of the contribution or the right to receive the contribution. The gross amount of a liability forgiven by a credit provider is recognised as revenue. 41