NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS  NOTE 1 - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES continued  j) Cash and Cash Equivalents  k) Revenue  l) Borrowing Costs  m) Goods and Services Tax  n) Business Combinations  - 67 -  Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid  investments with original maturities of three months or less, unrestricted escrow accounts that management  expects to be used to settle current liabilities, capital or operating expenditures, or complete acquisitions and bank  overdrafts. Revenue from the sale of goods is recognised upon the delivery of goods to the customer. Revenue from the  rendering of a service is recognised upon the delivery of the service to the customers. All revenue is stated net of  the amount of goods and services tax (“GST”). Borrowing costs, including interest, directly attributable to the acquisition, construction or production of assets that  necessarily take a substantial period of time to prepare for their intended use or sale are added to the cost of those  assets until such time as the assets are substantially ready for their intended use or sale. Borrowings are recognised  initially at fair value, net of transaction costs incurred. Subsequent to initial recognition, borrowings are stated as  amortised cost with any difference between cost and redemption being recognised in the consolidated statement  of profit or loss and other comprehensive income over the period of the borrowings on an effective interest basis. The Company capitalised eligible borrowing costs at 100 percent equal to $3.4 million and $1.3 million for the years  ended 31 December 2014 and 2013, respectively. All other borrowing costs are recognised in income in the period  in which they are incurred.  Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred  is not recoverable from the Australian Tax Office. In these circumstances the GST is recognised as part of the cost of  acquisition of the asset or as part of an item of the expense. Receivables and payables in the statement of financial  position are shown inclusive of GST.  Cash flows are presented in the consolidated statement of cash flows on a gross basis except for the GST component  of investing and financing activities, which are disclosed as operating cash flows.  A business combination is a transaction in which an acquirer obtains control of one or more businesses. The  acquisition method of accounting is used to account for all business combinations regardless of whether equity  instruments or other assets are acquired. The acquisition method is only applied to a business combination when  control over the business is obtained. Subsequent changes in interests in a business where control already exists  are accounted for as transactions between owners. The cost of the business combination is measured at fair value  of the assets given, shares issued and liabilities incurred or assumed at the date of acquisition. Costs directly  attributable to the business combination are expensed as incurred, except those directly and incrementally  attributable to equity issuance. 