Revenue Recognition Policy
Revenues are inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivery of its products, rendering services, or other activities that constitute the entity’s ongoing operations.
Revenues are recognized based on accrual accounting.
Revenues are considered earned when the college has substantially met its obligation to deliver its products/services over the period in which the courses are conducted.
Course fees collected from students for courses where portion of the course delivery will be conducted in the next fiscal year, the proportional amount of revenues which are classified as deferred revenues will only be recognized after the delivery of products/services in the next fiscal year.