PRINCIPAL ACCOUNTING POLICIES

UNIVERSITY CASH FLOW STATEMENT (Cont'd) FOR THE YEAR ENDED 30 JUNE 2009

The financial statements have been prepared on the historical cost basis except for certain availab1e-for-sa1e financial assets which are measured at fair value. The financial statements have been prepared in accordance with the Hong Kong Financial Reporting Standards ("HKFRSs ") issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"). The principal accounting policies adopted are as follows:

Basis of Consolidation

The consolidated financial statements incorporate the financial statements of the University and entities controlled by the University made up to 30 June each year. Control is achieved where the University has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the consolidated income and expenditure statement from the effective date of acquisition or up to the effective date of disposal, as appropriate.

Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group.

All significant transactions and balances between group entity are eliminated on consolidation.

Investments in Subsidiaries

Investments in subsidiaries are included in the University's balance sheet at cost less any identified impairment loss.

Interest in an Associate

An associate is an entity over which the Group has significant influence and that is neither a 3. ^{主要會計政策}

本財務報表乃根據原始成本慣例而編製，惟可供出售財務資產按公允值列脹除外。本財務報表根據香港會計師公會頒佈的香港財務報告準則編製。

主要會計政策如下。

3.1 ^綜合華準

綜合財務報表包括截至每年6月 30 日大學及受大學控制之個體的財務報表。

控制權為大學有權掌管該機構的財務及營運政策，而自其業務獲取利益。

於年內所收購或出售附屬公司的業績

，分別由收購生效日期起或至出售生效日期止計入綜合收支報表。

如有需要，會對附屬公司的財務報表作出調整，使其會計政策與集團其他成員公司所使用的會計政策保持一致。

集團內部所有重大交易及結餘均在綜合眼內抵銷。

3.2 投資於附屬公司

除表扣債值負本產成資按在資後投損的虧司值公減屬認附確。於可帳學何入大任中

3.3 ^{於聯營公司權益}

聯營公司指本集團可對其政策決定作重要影響之機構，而該機構文不屬於集闡之隔屬公司或於合資企業權益。

3.1

3.2

3.3

PRINCIPAL ACCOUNTING POLICIES

The financia1 statements have been prepared on the historica1 cost basis except for certain avai1ab1e-for-sa1e financia1 assets which are measured at fair va1ue. The financia1 statements have been prepared in accordance with the Hong Kong Financia1 Reporting Standards ("HKFRSs ") issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"). The principa1 accounting policies adopted are as follows:

Basis of Consolidation

The consolidated financia1 statements incorporate the financia1 statements of the University and entities controlled by the University made up to 30 June each year. Contro1 is achieved where the University has the power to govern the financia1 and operating policies of an entity so as to obtain benefits from its activities.

The resu1ts of subsidiaries acquired or disposed of during the year are inc1uded in the consolidated income and expenditure statement from the effective date of acquisition or up to the effective date of disposa1, as appropriate.

Where necessary，叫justments ar巴 made to the financia1 statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group.

All significant transactions and ba1ances between group entity are eliminated on consolidation.

Investments in Subsidiaries

Investments in subsidiaries are included in the University's ba1ance sheet at cost 1ess any identified impairment 10ss.

Interest in an Associate

An associate is an entity over which the Group has significant influence and that is neither a

3.4

3.5

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3.4

3.5

The results and assets and liabilities of an associate are incorporated in the consolidated financial statements using the equity method of accounting. Interest in an associate is carried in the consolidated balance sheet at cost as adjusted by post-acquisition changes in the Group's share of the net assets of the associate, less any impairment loss.

Where a group entity transacts with an associate of the Group, profits or losses are eliminated to the extent of the Group's interest in the relevant associate.

Interest in a Joint Venture

A joint venture is a contractual arrangement whereby the Group and other parties undertake an economic activity that is subject to joint control, that is when the strategic financial and operating policy decisions relating to the activities require the unanimous consent of the parties sharing control.

A joint venture arrangement that involves the establishment of a separate entity in which venturers have joint control over the economic activity of the entity are referred to as a jointly controlled entity. The results and assets and liabilities of a jointly controlled entity are incorporated in the consolidated financial statements using the equity method of accounting.

Interest in a jointly controlled entity is carried in the consolidated balance sheet at cost as adjusted by post-acquisition changes in the Group's share of the net assets of the jointly controlled entity, less any impairment loss.

Where the Group transacts with its jointly controlled entity, profits or losses are eliminated to the extent of the Group's interest in the jointly controlled entity.

Income

Government subventions and grants or donations containing a condition for refund of any unspent balance are initially credited to the Deferred

聯營公司之業績、資產及負債以權益會計法列入綜合財務報表。聯營公司權益按成本值列入綜合資產負債表，

其後會就收購後集團應佔聯營公司之淨資產，扣除所屬投資減值虧損入眠。

生抵產內而益易權交佔司所公團營集聯於與均構損機虧的或內利團盈。集之銷

3.4 於合資企業權益

合資企業是一個合約上的安排，由集團與其他參與者進行一項經濟活動，

該項活動由合資各方面共同控制，凡政策決定涉及財務及營運上之策略，

必須合資各方決議一致通過。

共同控制實體是透過成立一個獨立機構的合資企業安排，合資者均擁有共同控制實體之經濟活動。共同控制實體之業績、資產及負債以權益會計法列入綜合財務報表。共向控制實體權益按成本值列入綜合資產負債表，其後會就收購後集團應佔共同控制實體之淨資產扣除所屬投資減值虧損入脹。

集厲與共同控制實體交易而產生之盈利或虧損均於集團所佔權益內抵銷。

3.5 _收入

當收到或應收取舍退款條款的政府資助及撥款或捐款時，該筆款項會先記入遞延收畫畫帳項，然後再由遞延收益帳項依從以下方式轉撥:

3.4

3.5

The results and assets and liabilities of an associate are incorporated in the consolidated financia1 statements using the equity method of accounting. Interest in an associate is carried in the consolidated ba1ance sheet at cost as adjusted by post-acquisition changes in the Group's share of the net assets of the associate, 1ess any impairment 10ss.

Where a group entity transacts with an associate of the Group, profits or 10sses are eliminated to the extent of the Group's interest in the re1evant assocìate.

Interest in a Joint Venture

A joint venture is a contractua1 arrangement whereby the Group and other parties undertake an economic activity that is subject to joint contro1, that is when the strategic financia1 and operating policy decisions re1ating to the activities require the unanimous consent of the parties sharing control.

A joint venture arrangement that invo1ves the establishment of a separate entity in which venturers have joint contro1 over the economic activity of the entity are referred to as a joint1y controlled entity. The results and assets and liabilities of a jointly controlled entity are

inc。可orated in the consolidated financia1 statements using the equity method of accounting.

Interest in a jointly controlled entity is carried in the consolidated ba1ance sheet at cost as a吐justed

by post-acquisition changes in the Group's share of the net assets of the joint1y controlled entity, 1ess any impairment 10ss.

Where the Group transacts with its joint1y control1ed entity, profits or 10sses are eliminated to the extent of the Group's interest in the joint1y control1ed entity.

Income

Govemment subventions and grants or donations containing a condition for refund of any unspent ba1ance are initially credited to the Deferred

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• in respect of the recurrent block grant: all grants, other than those intended for capital expenditure, received in respect of the year are transferred to the income and expenditure statement unless the accumulated surpluses from block grants exceeded the maximum limit permitted by UGC. In that event, the transfer to the income and expenditure statement will be reduced by any amount refundable to the government.

• in respect of subventions and grants or donations intended for other expenditure:

amounts equivalent to the expenditure incurred during the year are transferred to the income and expenditure statement.

• in respect of subventions and grants or donations intended for capital expenditure:

amounts incurred in relation to capital expenditure on related property and equipment are transferred to Capital Reserves.

Subsequently, amounts are transferred each year from the Capital Reserves to the income and expenditure statement as Government Subventions and Grants or Donations &

Benefactions equivalent to the depreciation charges of the related property and equipment for the year.

Other grants and donations are recognized as income when received or receivable. Outstanding pledges are not recognized as income unless a legal obligation to donate is obtained from the donor.

Tuition fees, auxiliary services and rental income are recognised when services are provided.

Interest income from a financial asset is accrued on a time basis, by reference to the principal outstanding and at the interest rate applicable, which is the rate that exactly discount the estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount.

. 經常整筆撥款:除準備用作設備支出外，所有當年該收取的撥款將轉至收支帳內，除非整筆撥款的累積盈餘超越教資會所規定的最高限額。在此情況下，轉至收支帳的數額將扣除需退還政府的數額。

﹒用作其他使用的資助及撥款或捐款:等同年內所使用之款額會轉至收支帳內。

﹒用作設備開支的資助及撥款或捐款:運用於有關物業或設備之資本性開支的款項會轉至設備儲備脹內。隨後，等同有關物業及設備的每年折舊費會由設備儲備轉入收支限內之政府資助及撥款或外界捐款脹項。

其他撥款及捐款在收取或應收時確認為收入。未兌現的承諾捐獻，則在集團確立捐贈人有法定義務實現所許下之承諾才確認為該年度的收益。

學費、輔助服務及租金收入概於完成服務後確認入帳。

財務資產的利息收入以時間基準按結存金額及適用利率計算。適用利率即按財務資產預計於可使用年期內收取之估計未來現金款項折算至該資產脹面潮直之利率。

• in respect of the recurrent block grant: all grants, other than those intended for capital expenditure, received in respect of the year are transferred to the income and expenditure statement unless the accumulated surpluses from block grants exceeded the maximum limit permitted by UGC. In that event, the transfer to the income and expenditure statement wi11 be reduced by any amount refundable to the government.

.

in respect of subventions and grants or donations intended for other expenditure:

amounts equivalent to the expenditure incurred during the year are transferred to the income and expenditure statement.

.

in respect of subventions and grants or donations intended for capital expenditure:

amounts incurred in relation to capital expenditure on related property and equipment are transferred to Capital Reserves.

Subsequently, amounts are transferred each year from the Capital Reserves to the income and expenditure statement as Government Subventions and Grants or Donations &

Benefactions equivalent to the depreciation charges of the related property and equipment for the year.

Other grants and donations are recognized as income when received or receivable. Outstanding pledges are not recognized as income unless a legal obligation to donate is obtained from the donor.

Tuition fees, auxi1iary services and rental income are recognised when services are provided.

Interest income from a financial asset is accrued on a time basis, by reference to the principal outstanding and at the interest rate applicable, which is the rate that exact1y discount the estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount.

3.6

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3.6 Property and Equipment

Property and equipment, other than construction in progress, are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided to write off the cost of property and equipment, other than construction in progress, over their estimated useful lives and after taking into account their estimated residual value, using the straight-line method.

Construction in progress is stated at cost less any identified impairment loss and is not depreciated until completion of construction. Cost of completed construction works is transferred to appropriate categories of property, plant and equipment.

An item of property and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising from derecognition of an asset is determined as the difference between the sales proceeds and the carrying amount of the asset and

在文檔中 Financial Statements for the Year Ended 30 June 2009 (頁 28-33)