23 Sale of publications Sales of publications are recognised when the product is sold to the customer Provision of services Revenue derived through the provision of services to third parties is recognised in proportion to the stage of completion at balance sheet date. Leases Finance leases Leases which effectively transfer to the Commission substantially all the risks and benefits incidental to ownership of the asset, whether or not title is eventually transferred, are classified as finance leases. These leases are capitalised at the lower of the fair value of the asset or the present value of the minimum lease payments. The leased assets and corresponding lease liabilities are recognised in the statement of financial position. The leased assets are depreciated over the period of its useful life. The finance cost is charged to the statement of financial performance over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability. Operating leases Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased items are classified as operating leases. Operating lease expenses are recognised on a straight line basis over the period of the lease in the statement of financial performance. Cash and cash equivalents Cash and cash equivalents means cash balances on hand, cash held in bank accounts, term deposits with original maturities of three months or less and other highly liquid investments, in which the Commission invests as part of its day-to-day cash management. Debtors and other receivables Accounts receivable are initially measured at fair value and subsequently measured at their estimated realisable value after providing for doubtful and uncollectable debts. When the receivable is uncollectible, it is written off against the provision for doubtful debts. Investments Investments in bank deposits are initially measured at fair value and subsequently at fair value less any provision for impairment.