|12 Months Ended|
Feb. 28, 2022
|Disclosure Of Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Abstract]|
The movement in capitalised contract costs is as follows:
The movement in the impairment of contract costs is as follows:
In prior financial year, the Group entered into an agreement with an external party to pay commission fees for every successful customer referral upon signing of the subscription agreement of 3 years with the Group. These costs are capitalised as it is directly attributable to obtaining a customer’s contract and the Group expects to recover these costs. The contract costs are amortized over the subscription period of 3 years. For those customers who were unable to meet the transaction volume committed for a pre-determined period of time, a refund has been sought from the referral. The Group recognised an impairment loss of US$1,496,501 (2021: US$1,100,000) as of the current financial year end based on the recoverability of the remaining balance due to current conditions.
The disclosure of assets recognised from the costs to obtain or fulfil contracts with customers.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef