b'NOTE 13: DEFERRED CONSIDERATION20222021 Notes$000$000CURRENT Deferred consideration - Canossa13 (a)5,0005,0005,0005,000NON-CURRENT Deferred consideration - Canossa13 (a)6,84011,6206,84016,620Total deferred consideration11,84016,620Movements in deferred consideration:Carrying amount at the start of the year16,620- Additions through business combinations-16,620 Payments(5,000)- Interest expense220- Carrying amount at the end of the year11,84016,62013 (a) Deferred consideration relates to the acquisition of the Canossa business on 1 December 2020. The contracted deferred consideration amounts (undiscounted) to be paid to the Canossian Sisters are as follows: 1 December 2022: $5,000,000 1 December 2023: $4,000,000 1 December 2024: $3,200,000 Accounting PolicyThe deferred consideration liability is the difference between the total purchase consideration, usually on an acquisition of a business combination, and the amounts paid or settled up to the reporting date, discounted to net present value. The increase in the deferred consideration liability resulting from the passage of time is recognised as a finance cost.The company has adopted the companys borrowing rate of 1.5% to calculate the net present value.Page | 39'