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Notes to the Financial Statements30 June 20241. General informationSecurities Investors Association (Singapore) (the %u201cassociation%u201d) is registered in Singapore under the Societies Act 1966. The association is a charity registered under the Charities Act 1994 with effect from 8 May 2015. It is also an Institutions of a Public Character (%u201cIPC%u201d) registered under the Charities Act 1994 from 6 August 2021 to 5 August 2024 and subsequently renewed to 31 March 2028. The financial statements are presented in Singapore Dollar.The Management Committee approved and authorised these financial statements for issue on the date of the statement by the Management Committee.The principal activities of the association are those of providing forum discussion of investment interests of members; presenting views to Singapore Exchange and other appropriate bodies, providing educational information and conducting research into various aspects of investments to and advisory services to members; and to act on behalf of members in Court of law, tribunals, conferences and administrative bodies to protect the interest of members.The registered office address of the association is located at: 7 Maxwell Road, #05-03, MND Building, Annexe B, Singapore 069111. The association is situated in Singapore.Statement of compliance with financial reporting standardsThese financial statements have been prepared in accordance with the Financial Reporting Standards (%u201cFRS%u201d) and the related Interpretations to FRS (%u201cINT FRS%u201d) as issued by the Accounting Standards Committee under ACRA (%u201cASC%u201d).Basis of preparation of the financial statementsThe financial statements are prepared on a going concern basis under the historical cost convention except where a financial reporting standard requires an alternative treatment (such as fair values) as disclosed where appropriate in these financial statements. The accounting policies in the financial reporting standards may not be applied when the effect of applying them is not material. The disclosures required by financial reporting standards may not be provided if the information resulting from that disclosure is not material.2. Disclosures of material accounting policy and other explanatory information2A. Material accounting policy informationRevenue and income recognitionGeneral - Revenue is recognised at an amount that reflects the consideration to which the entity expects to be entitled in exchange for transferring goods or services to a customer (which excludes estimates of variable consideration that are subject to constraints, such as right of return exists, and modifications), net of any related taxes and excluding any amounts collected on behalf of third parties. An asset (goods or services) is transferred when or as the customer obtains control of that asset. As a practical expedient the effects of any significant financing component is not adjusted if the payment for the good or service will be within one year.8425TH ANNUAL REPORT | 2023 - 2024